China’s economy is expected to grow at its slowest pace since the Mao era, and debt has soared to $43 trillion.
President Xi Jinping has an ambition to double the size of China’s economy by the middle of the next decade.
Meanwhile, after mismanaging the pandemic, the United States could relinquish its title of being the world’s biggest economy by 2028.
Attempts by the Trump administration to restrict China’s access to technology may just be a road bump on the country’s relentless rise. But it also faces challenges in the form of demographics, enormous debts and geopolitical entanglements.
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