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Details of the economic gap between China and the United States under the impact of the epidemic this year

under the impact of the epidemic situation of reading guidance, the economic growth of various countries is different. Thanks to its good anti-epidemic performance, China's economy has performed relatively well, which is almost the only positive growth among all large economies. The American economy is relatively weak, and the overall growth is negative. As the economic growth of the two countries is positive and negative, some people think that China's economy will catch up with and surpass the United States.

judging from the history of GDP growth between China and the United States, the difference in GDP growth between China and the United States in 22 is not particularly striking. During the 42 years from the formal establishment of diplomatic relations between China and the United States in 1979 to 22, the annual economic growth rate of China was higher than that of the United States. Among them, there are two stages where the difference in economic growth rate is particularly obvious. The first stage was from 1991 to 1995. In these five years, the GDP growth difference between China and the United States is 9.7% annually. The second stage is from 26 to 21. In these five years, the GDP growth difference between China and the United States is as high as 1.4% annually, which is the most significant stage for China to narrow the economic gap with the United States since the reform and opening up. In the top 1 rankings of the annual growth difference between China and the United States, eight years belong to these two stages.

according to the IMF (international monetary fund) forecast, the GDP growth rate of China and the United States in 22 will be 1.9% and -4.3% respectively, and the GDP growth rate of China will exceed that of the United States by 6.2%, which is much higher than that of 3.78% in 218 and 3.82% in 219. Due to the poor growth rate in 22, China's GDP will continue to narrow the gap with the United States. According to the exchange rate, the ratio of China's GDP to the US's GDP will probably exceed 7% this year.

the difference in GDP growth rate between China and the United States depends on the GDP growth rate of China itself. Second, it depends on the quality of the American economy. Of course, if the US economy falls into recession, the difference in GDP growth between China and the United States will usually widen significantly. This is mainly reflected in a period of time after the outbreak of the US financial crisis in 28.

China's economic aggregate has gradually approached the United States from small to large, which is the result of a long time. In fact, the growth rate of 6.2% in 22 can only rank 24th in the 42 years since the establishment of diplomatic relations between China and the United States. Because the epidemic is sudden and accidental, the economies of all countries may return to normal in 221, and the growth rate will increase significantly compared with that of metropolis. According to the IMF's forecast, the GDP of China will be 8.2% and that of the United States will be 3.1% in 221, and the growth difference will fall back to 5.1%. Therefore, from the long-term perspective of the great rejuvenation of the Chinese nation, I am afraid that 22, which is in the epidemic stage, is not a crucial year for China's economy to catch up with the United States, nor an accelerated year, but it is a very solid year, which constitutes an important year for China's economy to continuously expand its share in the global economic map.

the poor economic growth rate between China and the United States is a normal reflection of the domestic economic development of the two countries. Which country can fully mobilize the factors of economic development, release the vitality of economic growth through continuous reform, and create a good environment conducive to economic development, will inevitably achieve better development results. Too much emphasis on the different effects of the epidemic on the economic growth of China and the United States may exaggerate the historical role of the epidemic. The sudden epidemic has brought a serious negative impact on the global economy, including China, and no country can be spared. China will not proceed from the narrow competition between China and the United States, and rejoice at the narrowing of the economic gap between China and the United States brought about by the COVID-19 epidemic. What's more, China has clearly adjusted its economic development concept from high-speed growth to high-quality growth. If China's economic aggregate will surpass that of the United States in the future, it is not and need not be because of the COVID-19 epidemic, but only the cumulative result of China's successful economic development mechanism in the past decades.

under the crisis, the overall position of China and the United States in the global economic structure has been further highlighted. According to the IMF's forecast, the economic growth rate of the United States this year is much better than that of other major developed economies, and its economic proportion in developed economies will further increase. The GDP of China and the United States will also account for more than 4% of the world. In this sense, China and the United States really shoulder the special and important responsibility of global economic growth. China and the United States should transcend bilateral economic competition, play the role of global economic leaders, and ensure the stable growth of the world economy under the epidemic through domestic economic stability and macro-policy coordination.

The real shaping of the global economy by the epidemic is not that the gap between China and the United States is accelerating, but that China and the United States, as the top two economies in the world, will further widen the gap with other economies. This is similar to the global political consequences derived from the 28 international financial crisis.