China remains the world’s economic engine
“According to forecasts from the World Bank and the FMI, the Chinese economy is expected to overtake the American by 2028”
With an economic growth of 2.3% expected in 2020, China is the only major global economy to have escaped a full recession in 2020. In the fourth quarter, its economic activity returned to a pre-pandemic pace. China’s economy grew by 6.1% in Q4 2020, compared with a growth of 6.5% in 2019. However, this was the lowest annual growth for 44 years.
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