China is operating from a position of great strength, with an economy expected to grow by 8.4% in 2021. If President-elect Joe Biden views China as a “serious competitor,” then the competition will be fiercer during his presidency than at any point in history.
What they’re saying: “However many times you hear the China growth story, it continues to have the capacity to shock and amaze,” says Columbia historian Adam Tooze. “In scale and speed it is unlike any previous experience.”
By the numbers: China’s economy is projected to grow by 2% in 2020 and by another 8.4% in 2021. By the end of next year, its economy is expected to be 10.6% larger than it it was at the beginning of this year.