No Result
View All Result
  • About Us
  • Advertise
  • Careers
en English
en Englishfr Français
Support Us
Mimi Mefo Info
  • Cameroon
  • Africa
  • Politics
  • Society
  • Business
  • Education
  • Tech
  • Entertainment
  • Opinion
  • Editor’s Picks
  • Sport
  • Cameroon
  • Africa
  • Politics
  • Society
  • Business
  • Education
  • Tech
  • Entertainment
  • Opinion
  • Editor’s Picks
  • Sport
No Result
View All Result
Mimi Mefo Info
English | Français
No Result
View All Result

COVID-19 impact: Economists forecast China will overtake US as world’s largest economy by 2028

Mimi Mefo Info by Mimi Mefo Info
December 26, 2020
Reading Time: 2 mins read
COVID-19 impact: Economists forecast China will overtake US as world’s largest economy by 2028
Share on FacebookShare on Twitter


By Tata Mbunwe

The Coronavirus pandemic has delt shrewdly with the world’s biggest economies with the United States worst hit with a 32.9 percent economic slump.


Economists have predicted that China America’s greatest economic competitor, will supercede the US by 2028 to become the world’s largest economy as the COVID-19 pandemic continues hitting hard on the United States.


China’s sudden rise over the US, thanks to Coronavirus impact, will be against an earlier date of 2033, which was the year initially predicted for China’s economy to overtake that of the US, according to a UK think tank.


The US economy fell by 32.9 percent of its annual rate between April and June this year due to Coronavirus lockdowns, according to a BBC report.
During the first four months of this year, the US economy contracted 9.5 percent. Both exports and imports fell by more than 20 percent compared to last year, while consumer spending – the main driver of the US economy – fell by 10.7 percent, the BBC further states.


By July this year, the US had lost nearly 15 million jobs with more than 1.5 million Americans filing unemployment claims to the country’s Government.


The Chinese economy witnessed a 6.8 percent slump during the first four months of this year as opposed to the 9.5 percent drop in the US economy during the same period.


However, by July, China’s economy bounced back with a 3.2 percent rise as the US economy was still dwindling.


Economists have warned it might take the United States several years to recover from the economic losses ensuing from the COVID-19 pandemic.


Since the outbreak of the COVID-19 pandemic, the US has recorded 19.2 million cases, with 338,000 deaths while China, where the virus originated, has had just 86,000 infections, with just 4,600 deaths.
With the discovery of the Pfizer vaccine proven to cure the virus, US President Donald Trump expressed optimism in his Christmas message that the virus is being controlled in most parts of the country.

You can help support our work through the link below
Tags: COVID-19
ShareTweetSendShare
Previous Post

Camair-Co to lay off 130 employees as 110 billion debt weighs on – Reports

Next Post

Breaking News!
Two students drown in swimming pool at Buea-based hotel

Related Posts

Abduction of female MP: SDF condemns Separatists’ targeting of its party
Live Update

Abduction of female MP: SDF condemns Separatists’ targeting of its party

February 8, 2023
Thousands express consternation over attack on Black girl by group of White girls in London
Live Update

Thousands express consternation over attack on Black girl by group of White girls in London

February 8, 2023
ELECAM snubs killing of two staff in NW, announces readiness for senatorial elections
Live Update

Cameroon Senatorial Elections: Who is contesting in crisis-hit Anglophone Regions

February 8, 2023
Syria: Baby born under earthquake rubble miraculous survives as mother dies
World

Syria: Baby born under earthquake rubble miraculous survives as mother dies

February 7, 2023
SDF to run for senatorial election only in North West
Live Update

SDF to run for senatorial election only in North West

February 7, 2023
Nine shops destroyed by wild flames in Buea
Human Interest/Society

Nine shops destroyed by wild flames in Buea

February 7, 2023
You can help support our work via the link below

Recommended

Breaking news :  Une femme poignarde un vigile à l’hôtel Sawa à Douala

Breaking news : Une femme poignarde un vigile à l’hôtel Sawa à Douala

50 mins ago
Malentouen : Le Sultan Bamoun en mission de paix

Malentouen : Le Sultan Bamoun en mission de paix

1 hour ago
Abduction of female MP: SDF condemns Separatists’ targeting of its party

Abduction of female MP: SDF condemns Separatists’ targeting of its party

1 hour ago
Thousands express consternation over attack on Black girl by group of White girls in London

Thousands express consternation over attack on Black girl by group of White girls in London

2 hours ago

Popular News

Plugin Install : Popular Post Widget need JNews - View Counter to be installed

You can help support our work via the link below

Category

  • Accident de la route
  • Affairs
  • Africa
  • Afrique
  • Agriculture
  • Business
  • Cameroon
  • Cameroun
  • Coupe d'Afrique des Nations
  • Crise Anglophone
  • Culture
  • Development
  • Développement
  • Economie
  • ECONOMY
  • Editor's Picks
  • Editorial
  • Education
  • Entertainment
  • Environment
  • Environnement
  • Fashion
  • Food
  • Français
  • French
  • Gestion
  • Gouvernance
  • Health
  • Human Interest/Society
  • Human Rights
  • HUMANITAIRE
  • Infrastructures
  • Insécurité
  • Interviews
  • Judiciary
  • Justice
  • Lifestyle
  • Live Update
  • MONDE
  • Nécrologie
  • News
  • News Roundups
  • Opinion
  • Other
  • Politics
  • Politique
  • Religion
  • Road Safety
  • Santé
  • Science
  • Security
  • Société
  • Sport
  • Tech
  • Technologie
  • Tourisme
  • Transport
  • Travel
  • Voyage
  • World

Important Links

  • Term of Use
  • Privacy Policy
  • About Us

Copyright © 2020 Mimi Mefo Info Ltd. - All Rights Reserved.

No Result
View All Result
  • Politics
  • World
  • Business
  • Science
  • Entertainment
  • Fashion
  • Lifestyle
  • Tech
  • Health
  • Food

Copyright © 2020 Mimi Mefo Info Ltd. - All Rights Reserved.

en English
en Englishfr Français
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
pixel