Appearing on NewsmaxTV, former Trump Deputy National Security Advisor KT McFarland warned she believes China “intends to emerge from this period as the world’s dominant power economically, politically, diplomatically.””
.@realKTMcFarland tells @JosephPinion China "intends to emerge from this period as the world's dominant power economically, politically, diplomatically." https://t.co/VlT7z8v2lm pic.twitter.com/dWlHpKDFKX
— Newsmax (@newsmax) December 31, 2020
In their latest annual report, the Centre for Economics and Business Research estimate China will overtake the U.S. as the world’s biggest economy in 2028.
This is five years earlier than previously estimated due to China’s faster recovery from the COVID-19 pandemic and much smaller outbreak.
“The COVID-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China’s favour,” the report says.
According to Reuters “China looked set for average economic growth of 5.7% a year from 2021-25 before slowing to 4.5% a year from 2026-30.
Republicans have accused Biden or underestimating China as a growing economic power and potential threat to the United States.