The Chinese economy is expected to surpass that of the U.S. in 2028 - five years earlier than previously forecast - following fallout from the coronavirus pandemic, according to an analysis released Saturday.
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https://www.msn.com/en-us/news/world/china-expected-to-surpass-us-economy-in-2028-analysis/As stated, this is 5 years earlier than last projected, due to the effects of the pandemic. The US is not going to like being in the number two spot, and even less when India’s economy then surpasses the US after that. The biggest benefit to this massive Asian economies is the sheer number of people. The United States’ best hope of competing is to increase the number of Americans and, and quickly.
The US should be drastically overhauling the skilled worker visa program to greatly increase the number of tech workers brought into the country so that the next tech mega companies are created here, and not in Asia. This is should be viewed as an area of national security. Larger militaries inevitably follow larger economies, and the US can not afford to squander the advantages while they still have them.
I think one thing this unexpected event like Covid-19 has taught is that south things can go from what is planned. But I believe one thing is going to happen post-pandemic is that the metrics of the Economy are going to change drastically. A mere economic strength really means nothing these days. It's the per capita GDP and HDI which needs to be the real metric of measuring economic development. The Gap between rich and poor in Asian countries is drastic. India being such a superpower still has at least 10th of its population under poverty which is the official metric and I believe this number might go up after the pandemic. I think globally too economists should focus on decreasing the sparsity between rich and poor and not mere industrialization in hands of big guns.