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All Eyes on Economic Growth as US, China Race Heats up – WSJ

In June, President Joe Biden twice said US gross domestic product growth this year would overtake China’s for the first time since 1976


The focus of the US-China great power rivalry has shifted to whose economy will grow the fastest this year, amid multiple challenges on the domestic front for both nations.
In China, the annual growth figure has always been the most watched economic datapoint, unlike the US, where inflation and jobless numbers get more attention. File photo: Reuters.

 

The focus of US-China great power rivalry is squarely on the pace of growth of both economies, the Wall Street Journal reported.

In June, President Joe Biden said the US would beat China on the economic growth front for the first time since 1976 despite inflation and a looming recession, even as President Xi Jinping vowed to ensure Beijing stays ahead in a year he is looking to stay in power for a third term, the report added.

Read the full report: The Wall Street Journal.

 

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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