China will be the largest global economy by 2028, surpassing the US?

A new report published by a British think tank says that Beijing’s response to the coronavirus epidemic paved the way for China to become the world’s largest economy by the end of the decade. Details below.

According to dw.com, the UK think tank said that Beijing “is now expected to overtake the US by 2028, as opposed to 2033”. They expect that Washington’s share in the global GDP would decrease from 2021 on. The Centre for Economics and Business Research (CEBR) released its annual report on Saturday.

The previous relevant calculation done by WELT (World Economic League Table) said that the turning point would be no sooner than in 2033. The reason behind the change is the difference between Beijing’s and Washington’s reaction to the coronavirus epidemic and how they would like to recover their economies from the depression caused by the virus. The report says that