China will grow at double the US rate in coming years, Nicholas R. Lardy wrote for Foreign Affairs.
China's nominal GDP will surpass the US's in a decade as the yuan appreciates, Lardy said.
In that case, China's GDP outpaced the US, with each country expanding 5.2% and 2.5%, respectively.
That depressed China's yuan, eroding the value of its GDP when measured in dollars.
"When real estate is excluded, private investment rose by almost ten percent in 2023. "
Persons:
Nicholas R, Lardy, —, it's
Organizations:
Foreign Affairs, Service, Peterson Institute
Locations:
China, United States, Washington