Economists might disagree on a lot, but they all agree China will overtake the US as the world’s largest economy. Estimates range between 20261, 20292, and 20303 but the emphasis now is on ‘when’ rather than ‘whether’ it happens.
That is fine for futurists but focusing on China’s longterm leading position misses what’s happening now and, clearly, the future just happened.
China led the world economy in 2018, and is forecast to do so in 2019, adding 27.2% of total global growth during the period, exceeding the 12.9% from India and the 12.3% from the United States, according to the IMF.
This may come as a surprise, particularly after recent rapid growth in the US, but looking across a range of sectors, it is clear that China is the most influential market globally.