A recent report from the Center for Economic and Enterprise Research (CEBR) shows that China will recover earlier than expected and overtake the US economy from the aftermath of the COVID pandemic.
According to the report, China is predicted to swap places with the United States by 2028 “after weathering the coronavirus pandemic better than the West.”
Bloomberg News reports, “The world’s largest and second-largest economies are on track to convert dollars in 2028, five years earlier than expected a year ago.”
“The COVID-19 pandemic and the associated economic consequences have undoubtedly sparked this rivalry in China’s favor,” claims the CEBR in relation to the two superpowers.
In contrast to the West, the CEBR also praised China’s “skillful management of the pandemic”.
China is set to outperform the US as the world’s largest economy by 2028, says reporthttps: //t.co/q2LZ9Bya30
– 👨🔬⚡XRP Yoyo⚡ @ ♂️ (@XrpYoyo) December 26, 2020
RELATED: Are Biden’s Team Responsible for Red China?
China’s economy recovers after COVID pandemic
Isn’t it ironic that China’s economy will recover faster than America’s when they were the nation that ushered the rest of the world into the pandemic that is currently devastating our businesses?
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When the dust settles, China may be the nation that has benefited most from the terrible disease they have caused on the planet.
“While the United States was likely to see a strong post-pandemic rebound in 2021, its growth would slow to 1.9% annually between 2022 and 2024, and then to 1.6% thereafter,” reports CNBC.
On the other hand, China will expect “average economic growth of 5.7% per year from 2021 to 2025 before slowing down to 4.5% per year from 2026 to 30”.
The US lost 140,000 jobs in December, the first decline since April. https://t.co/S1ZjymHj2y
– The New York Times (@nytimes) January 8, 2021
No better friend of China than Biden
There was no better friend for the Chinese economy than soon-to-be President Biden, as his decades of experience in further development show.
He helped give China “Most Favored Nation” status and killed millions of American jobs.
Biden recalled his foreign policy references from the March campaign and remembered once telling former President Barack Obama, “China is not our problem.”
“China will eat our lunch?” Biden mocked at a rally shortly after his candidacy was announced. “Come on man.”
# On that day last year, Joe Biden reminded us why he would be the worst choice to stand up against China and fight for American workers.
“China will eat our lunch? Come on man … they’re not bad people, guys … they’re not competition to us. “Pic.twitter.com/5jMQe6DUnq
– Trump War Room (@TrumpWarRoom) May 1, 2020
Jake Sullivan, who will serve as Biden’s National Security Advisor, once suggested that America must help facilitate China’s economic rise.
During a 2017 talk, Sullivan told the Lowy Institute students, “We need to strike a middle ground – one that will promote China’s rise in a way that is consistent with an open, fair, rule-based, regional order.”
He later added that US policy towards China “must be about our links with the region, creating an environment more conducive to China’s peaceful and positive ascension.”
#US should # promote China’s rise, # says Jake Sullivan.
Sullivan was an adviser to Biden during his vice presidency. #geopolitics #security # G2 #strategicforesight https://t.co/magFv59ZS8 pic.twitter.com/CiMSfGiObW
– Velina Tchakarova (@vtchakarova) November 25, 2020
The Global Times, a Chinese Communist Party newspaper, believes Biden who enters the White House will be of benefit to them too.
They report that a professor at the China Foreign Affairs University Institute of International Relations describes the Biden team as a group of “elites” who would be “very” predictable “in foreign policy with a multilateral mindset.”
What a relief it must be after President Trump put his feet to the fire for four years.