Over the past 70 years, China made a huge transformation into the economy, just in time for widespread fears that a trade war with the United States will derail that growth and drag the world economy down with it. From the McKinsey Global Institute report, it showed that China’s engagement with the world in the coming years, will economically value between $22 trillion to $37 trillion could be added or subtracted from the global economy by 2040. Hereby, China overtook Japan as the world’s second-largest economy in 2010, which it has remained in that position, second only to the United States. However, some economists have predilected that China’s economy will surpass America’s by about 2030. Moreover, according to the World Bank, the Chinese economy has been the world’s largest since 2014. This comes by the major of its massive network of factories that churned out everything from toys to mobile phones for consumers all over the world. China’s entry into the World Trade organization i...
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