London: Coronavirus has completely destroyed the economic potential of the United States and many other countries. Covid significantly affected the economic situation of European countries. While most countries are looking at the crisis, now things are going well in China. According to reports, China will overtake the United States to become the world’s biggest economy in 2028.
For the past few years, the movements of the global economy have caused economic and power disputes between China and the United States. A study report says that the economic collapse has been caused by COVID-19. “For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and China,” the Centre for Economics and Business Research said in an annual report. “The Covid-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China’s favour,” the report says.