The US has pulled further ahead of China in the race for world’s biggest economy, thanks in part to a vibrant American consumer.
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10 Great Countries without Public Debt - Clear Finances25 Largest Economies in the World by 2100How Bad Is China’s Economy? - Project SyndicateOnce thought inevitable, China overtaking US in GDP now far from certainUS gross domestic product rose 6.3% in nominal terms — that is, unadjusted for inflation — last year, outpacing China’s 4.6% gain. While some of the outperformance reflected America’s elevated price increases, the 2023 outturn underscores a broader point: The US economy is emerging from the pandemic period in a better place than China’s.
