United States.- For the first time in 4 decades, the United States economy is set to have higher growth than it will record Chinaaccording to the calculations of Bloomberg Economics.
According to Bloomberg forecasts, it is expected that during the current year, the economy of the Asian country will present a growth of only two% from his Gross domestic product (GDP), while it is estimated that the US will increase 2.8% in this same time period.
The foregoing, points out the American financial advisory company, because the policies against covid-19 pandemic of the Asian country will affect the economic activity of said nation.
President Xi Jinping has implemented the strategy of COVID Zero by which restrictions on economic activity are required once outbreaks of SARS-CoV-2 infections have been detected, which undermines the fiscal, monetary and regulatory stimuli that have been implemented.
Meanwhile, despite the fact that the United States continues to fight against its high inflation that has occurred in recent months, its economy continues to be driven by high hiring and large consumer spending.
However, it is worth mentioning that the calculation of Bloomberg Economics is far below the measure of forecasts for China’s GDP growth for this 2022, since it is expected to increase more than 4% in the course of the present anus.
However, if the predictions of the US company are fulfilled, this 2022 would be the first year, after 1976that the US economy manages to grow more than that of the Asian nation.
From the “reform and open” campaign implemented in the late 1970s, China has been able to enjoy more agile rates of expansion, and there is still much room for its GDP per capita to close the gap with the United States.
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China’s economic growth target for the current year, which is the lowest ever set, is about 5.5%a forecast that was decreed by Chinese leaders ahead of the latest series of shutdowns in metropolises, which have hurt domestic spending.
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