China On-Track To Overtake US GDP – But Not 2021 Olympics

China On-Track To Overtake US GDP – But Not 2021 Olympics


1. July Jobs Report Was Stronger Than Expected

2. China’s Economy Set To Surpass US GDP By 2028

3. US Nudged Out China In Olympic Gold Medal Race


Demographers now project that China, with its record large population of nearly 1.4 billion people, will overtake the US as the world’s largest economy by 2028, if not even sooner, a few years earlier than previously predicted, based on the latest GDP figures for 2020.

I thought I would frame today’s commentary on China vs. America in the context of the latest Tokyo Olympics. China is consistently gaining ground on America in many areas: economically, technologically and numerous others – and even made a run on the US for gold medals at the just concluded 2021 Olympics – but fell just short.

At this year’s Tokyo games, the US came out on top with 39 gold medals to China’s 38 golds. In overall medals (gold, silver, bronze) the US won 113 – fully one-third of all 339 medals awarded and by far the most of any country – to China’s 88 and Russia’s 71. I’ll have more comments on the Olympics below.