The United States increases its advantage over China as a superpower. international

economy of the united states closes in 2023 with growth in Gross domestic product (GDP) of 6.3% in nominal termsCrossing behavior recorded by People’s Republic of China (4.6%)The distance between the two powers increased further.

Although part of these figures reflect higher prices in the United States, it also reflects the results The North American country’s economy was better than the Asian giants after the pandemic,

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,This is a surprising turn of events. The strong performance of the US economy, as well as the short-term and long-term headwinds facing the Chinese economy, makes the proposition that China’s GDP will one day overtake that of the United States less obvious.“, Said Ishwar Prasad, expert from Cornell UniversityQuoted by ‘Bloomberg Linea’.

This matches the behavior that Share Market In both powers. While US stocks reached historic highs in the last weeks of 2023, according to the same medium, Chinese stocks are in an unfavorable position with negative figures of more than six million dollars.

economy of the united states

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By early 2023, experts widely expected the United States economy to enter a recession, as growth in Rate of interest on behalf of Federal Reserve (Fed) So that inflation can be fought.

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Meanwhile, China was expected to make a stellar recovery after reopening its economy to the world after a stringent lockdown. COVID-19,

However, with the data published by Department of Commerce Last Thursday, it was clear that the North American economy had grown by 3.3% in real terms. At the same time, inflation is approaching the Fed’s 2% target.,

China

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On the other hand, the Chinese economy is battling a real estate bubble, in addition to experiencing the worst deflation in more than two decades. exportA key part in China’s emergence as a power, falling in 2023, at the same time as other conditions, such as youth unemployment And this local government debt excessContinue to make an impact, according to Bloomberg Linia.

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Although the economy was able to meet the growth target with a growth of 5.2% last year, there are doubts This is not a true snapshot of the behavior of Chinese national finances in 2023Largely due to the impact of the pandemic.

,The pandemic has obscured many of China’s vulnerabilities, which are deep and structural and will persist throughout the decade, depending on its ability to reform.“he explained Josh Lipsky, former advisor to the International Monetary Fund and director of the Center for Geoeconomics at the Atlantic CouncilCited by the same digital medium.

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*With information from Bloomberg Line