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Home Economy

U.S. economy may outpace China’s this year for the first time in nearly 50 years

Just the News by Just the News
May 21, 2022
in Economy
Reading Time: 1 min read
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U.S. economy may outpace China’s this year for the first time in nearly 50 years

The growth of the U.S. economy is set to outpace that of China’s for the first time in nearly five decades, a leap reportedly due to China’s ongoing severe lockdown in an attempt to contain the COVID-19 virus.

The U.S. economy is projected to grow 2.8% this year, while the People’s Republica of China is projected to grow nearly 30% slower, at just 2.0%.

The last time U.S. growth was ahead of China’s was its bicentennial year of 1976, when it grew by 5.39%.

China’s slowdown is largely attributed to its continuing severe lockdown of Shanghai, which the country instituted earlier this year in an effort to contain the spread of a SARS-CoV-2 outbreak there.

Nearly every other country in the world has moved on from the strict COVID lockdowns that spread around the globe in the earliest months of 2020, with China’s Shanghai lockdown a major outlier in the current global pandemic response.

This article was originally published by Just the News. Read the original article.

Just the News

JusttheNews.com is committed to just reporting facts from journalists with a long record of public trust and excellence. In an era where opinion and supposition are too often substituted for fact and where journalists rush to get things first and hope their stories are correct, JusttheNews.com tries to stand out by returning to the bedrock promise of getting news first, but first getting it right. We try to deliver exclusive news you can trust.

justthenews.com/
Tags: Chinaeconomic growthUSWorld

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