Experts suggest that the global economic situation will drastically change in the next ten years. Most likely, China will be able to overtake the United States in the race for international supremacy.
The reason for such a positive outlook was China’s five-year plan for social and economic development. The document was revealed by General Secretary Xi Jinping during the plenary session of the Communist Party Central Committee that was traditionally held behind closed doors. All details of the next five-year plan will be known later. The only information available today is that China will be focusing on technological innovations and, surprisingly, on preserving the environment and improving the ecological situation in the country in the next five years. The Chinese authorities are still aiming at global economic dominance. In the light of the financial crisis driven by the coronavirus pandemic, there is a great chance that China will be able to achieve its ambitious goal. There is every likelihood that China will establish its economic dominance over the US if not in five than in ten years.
The International Monetary Fund considers China to be the only top economy to expand by the end of 2020. The country’s GDP is estimated to spike by 1.2% this year and 8.2% in 2021.
