China Slowdown Means It May Never Overtake US Economy, Forecast Shows
- Bloomberg Economics projects growth slowing to near 1% by 2050
- Property slump and battered confidence are proving hard to fix
China is no longer set to eclipse the US as the world’s biggest economy soon, and it may never consistently pull ahead to claim the top spot as the nation’s confidence slump becomes more entrenched.
That’s according to Bloomberg Economics, which now forecasts it will take until the mid-2040s for China’s gross domestic product to exceed that of the US — and even then, it will happen by “only a small margin” before “falling back behind.” Before the pandemic, they expected China to take and hold pole position as early as the start of next decade.