China's GDP has expanded at 8.1 percent in 2021, growing the fastest in nearly a decade and landing well above the government's annual target of achieving a growth rate above 6 percent.
  • pooh [she/her, love/loves]
    ·
    3 years ago

    China GDP growth since the pandemic began is 5.1% and US is at ~1% lol

    It gets even better. Check out this article from March 2021:

    Economists are swiftly upgrading their US growth forecasts as Covid vaccinations accelerate and after Washington enacted a $1.9 trillion stimulus package that is far larger than many thought possible just a few months ago.

    Goldman Sachs is calling for 2021 US GDP growth of 6.9%, the fastest since 1984. Morgan Stanley is even more bullish, predicting 7.3% growth. That would surpass the Chinese government's humble target of 6%. More importantly, these Wall Street estimates for the US' pace are not far from the 8.4% consensus forecast for China among economists polled by Refinitiv.

    All of this means that US GDP growth could rival or perhaps even surpass that of China. This would be a remarkable achievement because the United States is a much more mature economy — and was blown away by China's explosive growth out of the Great Recession.

    The reality looks to be way below these rosy expectations. lol