Will the US remain the sole global economic superpower until 2035?
- The Development Research Centre of the State Council paints a relatively low profile role for China over the next two decades due to current economic slowdown
- Reports released ahead of the trade talks between China’s Vice-Premier Liu He and a US delegation led by Robert Lighthizer and Steven Mnuchin in Beijing this week
The United States will remain the world’s only global economic superpower until 2035 even though China’s role in the world economic landscape will become more important, according to Beijing’s latest predictions, in an apparent toning down of the mainland’s public ambitions for its future role in global economy.
While the report by the Development Research Centre of the State Council (DRC) does not directly address the rivalry between China and US, it does attempt to project a relatively low profile role for China over the next two decades.
It is often assumed that China will overtake the US as the world’s number one economy, or at least gain the same prestige as a global economic superpower, within the next decade.
Standard Chartered Bank predicted in January that China would overtake the US as the world’s largest economy as soon as 2020.
The latest humbler predictions from the state-owned think tank, a summary of which was published in the official Economic Daily newspaper on Tuesday, came at a time when Beijing’s global push has met growing resistance and its growth prospects have been darkened by rising hostilities with Washington.
