Can China beat USA Economy in 10 Years?Add Answer
An interesting topic is in the public interest that China can beat the USA Economy in the upcoming 10 years. Many confusions and debates are going on regarding this topic. The fact that China is on its way to take over the power and become the world’s most economically stable country. The latest GDP report says that China rose by 2.3% in 2020 while the US fell by 2.3% despite this pandemic. There is a rapid growth in the economy of China in this Covid situation which makes it efficient to compete with the USA. The reasons behind this economic growth are rapid productivity growth and large-scale capital investment. Economic reforms increased resources of investment and also increased the output. Another factor is responsible for China’s top economy which is gain in productivity.
It has been figured out that in 2018 GDP of China in US dollars per capita was 13.4 trillion
which was nearly 65.3% of the US economy. Besides, China has a very high technological
development which in turn led to GDP growth and also economic growth. Chinese Government predicted that China would reach the top economy list by 2025. According to the World Bank China has become the world’s largest manufacturer and exporter which directly has a great effect on rapid economic growth. So, there is no doubt that China would replace the USA and soon become the most economically powerful country. Several factors show the growth of China. These factors would help China to beat the USA in the upcoming 10 years or even less.