1. Its GDP Growth Is Slowing, But Still High
The coronavirus has had a massive impact, like with every other country, on its economic growth over the past two years. Unfortunately, despite being the originator of the virus, China still continues to grow. According to a report by the global management consulting firm McKinsey & Company, China had in 2020-21 surpassed the United States becoming the wealthiest nation in the world.
According to Price Waterhouse Coopers, considered one of the Big Four accounting firms, along with Deloitte, EY, and KPMG, projects that China will be the leading emerging economy by 2050. With India in second place, PwC believes that the United States will fall into third place in the global GDP rankings.
