China's GDP could surpass the US's in 2030

This is quoted from the presentation of Dr. Pham Huyen Trang - expert in US-China economic relations during a seminar on Chinese Economics and Strategic Research No.28 took place on 5th March 2019 at the VNU University of Economics and Business.

The seminar was held by VNU University of Economics and Business, Vietnam Institute of Economic and Policy Research, Program of Chinese Studies and Fredrich Naumann Foundation. The seminar under the theme of "Prospects of US - China economic relations after 1st March and geostrategic impacts” attracted interest from scholars, enterprises and students in International Economics and Business Administration.

 
Assoc.Prof.Dr. Nguyen Anh Thu - Vice Rector of the UEB opened the seminar

Opening the seminar, Dr. Pham Huyen Trang gave an overview on US - China economic relations since the Second World War. She pointed out that in the 50s and 60s of the last century, the US economy was far ahead of the Chinese economy, but in the 20th century, China's economy had been tremendously developed and this gap has been narrowed. It’s forecasted that by 2030, China's GDP could surpass the US to become the world's biggest economy.

 
Dr. Pham Huyen Trang (left) is an expert in US-China relations 

The speaker also pointed out that the two giant countries always have mutual economic restraint, the rise of one country will be another country's concern. US’s taxation on Chinese goods will be relevant to that of Chinese tax on US’s commodities.

 
 
 

She predicts that in the future, China may no longer enjoy the benefits from developing countries, meanwhile, tariff barriers are gradually lifted but non-tariff barriers will increase. The rise of populism, isolationism, nationalism, protectionism of the United States and other parts of the world will also have a significant impact on international trade and investment.

>>> Click here to see the news in Vietnamese.

Thanh Tu

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