Citing independent experts on Twitter, President of the United States Joe Biden wrote that this year the US economy could surpass China in terms of growth for the first time since 1976.
“Independent experts predict that the US economy could grow this year even faster than the Chinese economy,” the US leader said in a statement.
He explained that this has not happened for almost half a century – since 1976.
According to IMF data, China’s GDP growth this year is expected to reach 3.2%. At the same time, the IMF predicts that the American economy will grow by 1.6% by the end of 2022.
From the statistical report of the Bank for International Settlements (BIS) shouldIt was reported that the total volume of loans extended to China’s non-financial sector in the second quarter reached $51.87 trillion. This amount is comparable in size to three dimensions of an Asian country’s gross domestic product and corresponds to 295% of GDP.