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Japan believes that China will never be able to overtake the United States in terms of GDP

Asia (bbabo.net), - Due to the dire long-term consequences of fighting the spread of the coronavirus and the economic pressure that Washington is putting on Beijing, China will not be able to overtake the United States in terms of its gross domestic product (GDP). This opinion was expressed on the pages of the Nikkei newspaper by specialists from the Japan Center for Economic Research, reports today, December 15, TASS.

According to earlier forecasts by experts from this organization, China should overtake the United States in terms of GDP in 2028 and come out on top in this indicator in the world. However, in last year's report, the implementation of this forecast was pushed back to 2033.

And now, Japanese analysts have come to the conclusion that China will not be able to overtake the United States at all. The reason they called the slowdown in the growth of the Chinese economy, which, in their opinion, will be more significant than previously thought. In addition, according to their conclusion, the situation will be aggravated by the growing shortage of labor due to the beginning of the decline in the birth rate.

In 2030, according to the same estimates, China's GDP growth rate will fall below 3%, and in 2035 it will drop to 2.2%. Thus, China will slowly catch up with the US. However, in 2035, as analysts predict, its GDP will reach only 87% of the US and stop there.

According to Japanese experts, China will be able to completely lift quarantine restrictions associated with the threat of the spread of coronavirus, not earlier than 2025. This will lead to a long-term containment of domestic consumption and will be an important factor in slowing down economic growth. Tokyo has recognized the effective policy of economic containment of the PRC, which is pursued by the United States, since it entails, among other things, a reduction in foreign investment in the Chinese economy.

The Japan Center for Economic Research was established in 1958. In addition to experts, it includes representatives of the country's leading corporations and government departments as members.

Japan believes that China will never be able to overtake the United States in terms of GDP