China Economy Overtaking the U.S. to Guide Biden’s Trade Stance

The world’s largest economy is at risk of losing its top billing. When Donald Trump won the election in 2016, China’s gross domestic product was about 60% of that in the U.S. By the end of his four year term, it had pushed past 70%. That threat is likely to influence Joe Biden’s approach to the Asian nation, with a new framework for the relations having the potential of substantially reshaping economies and markets around the world, according to Bloomberg Economics.