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Ruchir Sharma - 2 Sharma - 2 Mao Zedong - 1 — - 1 Xi Jinping - 1 Joe Biden - 1 Biden - 1 Big spender China - 1
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☆ China's share of the global economy is falling by the most since Mao Zedong, and the historic turn could 'reorder the world'
  + stars: | 2023-11-23 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +4 min
China's share of world GDP is on pace to shrink 1.4 percentage points over two years, Ruchir Sharma wrote in the Financial Times. Now, the world's second-largest economy accounts for a smaller share of global GDP. AdvertisementDespite expectations for a blowout rebound, China's share will fall further in 2023, hitting 17%. In 1990, China's share of the global economy was less than 2%, but by 2021 it had soared to 18.4%. "But almost no matter what Xi does, his nation's share in the global economy is likely to decline for the foreseeable future," Sharma concluded.
Persons: Ruchir Sharma, Mao Zedong, Sharma, —, Xi Jinping, Joe Biden Organizations: Financial Times, Service, Rockefeller International, International Monetary Fund Locations: China, Europe, Japan, India, Indonesia, Mexico, Brazil, Poland, Beijing
☆ The US economy could end up like China's as massive debt weighs on growth, market expert says
  + stars: | 2023-09-25 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
The US economy could face a "long, slow grind" as huge debts take their toll, Ruchir Sharma wrote. There has been $8 trillion in new federal spending since 2021, he said in the Financial Times. "Many nations have come to regret massive stimulus campaigns, as the resulting debts weighed on growth." Big spender China was credited with 'saving the world' after 2008, but it has seen growth slow since then," Sharma said. When the stimulus and other temporary boosts wear off, the American economy could settle into a long, slow grind."
Persons: Ruchir Sharma, Biden, Big spender China, Sharma Organizations: Financial Times, Service, The Rockefeller International, Federal Reserve, China, Reserve Locations: Wall, Silicon, American, China
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