The Chinese economy is expected to pass the U.S. economy as the biggest in the world by 2028, according to a report by the Centre and Economics Business Research think tank.
China was originally expected to surpass the United States around 2033, but because of the damage that the COVID-19 pandemic has caused on small businesses in the U.S., the process has been sped up.
“For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and China,” the CEBR think tank said. “The COVID-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China’s favor.”
The report went on to state that China’s strategy to act strictly in the early lockdown and the failures of the U.S. to get their economy going have both contributed to the drastic change of trajectory.
After hearing officials throw around terms such as “two weeks to slow the spread” and “15 days to flatten the curve” back in March of 2020, citizens have grown restless nine months later in the United States. Everything from high school seniors missing proms and graduations to all of the unemployed Americans who lost their job to the pandemic — it has all taken a toll on everyone, at least at a certain level.
With the Trump Administration’s Project Warp Speed underway, officials say the United States is looking to open up soon. Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, gave a sports return timeline to Yahoo Sports — which could presumably be applied to other large public gatherings as well.
“By the time you get to the general public, the people who’ll be going to the basketball games, who don’t have any underlying conditions, that’s gonna be starting the end of April, May, June,” Fauci said. “So it probably will be well into the end of the summer before you can really feel comfortable [with full sports stadiums].”