China will overtake America to become world’s biggest economy within a decade

The Great wall of China

The Great wall of China

Source: Mail online

China will overtake America to become the world’s biggest economy in just 10 years, according to a report.

The U.S. has been the world’s economic leader for more than a century, but now, a huge rise in consumer spending in China is expected to see it passed in 2024.

Chinese consumer spending is predicted to triple over the next decade, according to an IHS report – increasing from $3.5trillion to $10.5trillion.

READ MORE

Chinese nominal GDP is predicted to reach $28.3trillion in 2024 thanks to increased consumer spending

Categories: Asia, China, Economics, Economy

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