admin The pandemic hit the world in a tough manner and the economies of almost every country in the world plunged. But as we moved back to the new normal, the economies were also seen to be recovering.
In lieu of the current statistics, and the countries that have been able to get their economy back on track, China seems to be on a way forward. It is expected that by the year 2028, China would be the world’s biggest economy, thereby overtaking its long time rival the United States.
It is believed that the way China handled the pandemic was certainly impressive and therefore it is better off than most economies in the world. it also has an undeniable influence on it overtaking the United States as the biggest economy in the world.
A soft power struggle has always been seen between these two superpowers where both of them have been splendid in their arenas. In the years 2021-25, it is believed by the economists that the growth of the Chinese economy would be roughly 5.7% per annum while the American economy is likely to be sluggish at the rate of 1.9% per year.
A change in dynamics will not only be seen in these two superpowers but other countries like the United Kingdom and India will also be seen vying for a spot in this competition after a constant tussle.
An important component in this revival of the economies all around the world is, the gradual opening up of the world and people adjusting to the new normal. With the coming of the vaccine, this has further been given impetus as it is expected that the world will soon be back on its normal functioning so will the economies.
The pace of the recovery of the economies will however depend on the development that has taken place within the country during the persistence of the pandemic.
It remains to be seen which country will prove to be the best in distributing vaccinations effectively and thereby, providing a boost to the economy.
Magazine 
