China Economy Overtaking the U.S. to Guide Biden’s Trade Stance

(Bloomberg) -- The world’s largest economy is at risk of losing its top billing. When Donald Trump won the election in 2016, China’s gross domestic product was about 60% of that in the U.S. By the end of his four year term, it had pushed past 70%. That threat is likely to influence Joe Biden’s approach to the Asian nation, with a new framework for the relations having the potential of substantially reshaping economies and markets around the world, according to Bloomberg Economics.

©2021 Bloomberg L.P.