Bloomberg Benchmark

Why China Surpassing America’s Economy Isn’t a Sure Thing

Informações:

Sinopse

China’s climb to the top of world economic rankings is considered a foregone conclusion in many circles, especially those inside the Chinese Communist Party. But all is not assured: Beijing faces economic and demographic challenges that make surpassing the U.S. less of a no-brainer than one might think. On this week’s podcast, host Stephanie Flanders steers a lively debate on global domination between Bloomberg Chief Economist Tom Orlik and George Magnus, a research associate at Oxford University’s China Centre. At present, China’s $14.7 trillion gross domestic product is 70% of America’s $20.9 trillion economy. In China’s best-case scenario, it could overtake its Western rival by 2031, according to research by Orlik and Eric Zhu, a Bloomberg economist based in Hong Kong. In a worst case scenario, a combination of stalled reforms, international isolation and financial crisis could relegate China to permanent second place. Magnus is skeptical of China’s chances of passing the U.S., arguing that its most produc