Reported about 8 hours ago
In 2024, the US economy solidified its position as the world's largest economy for the third year in a row, driven by a resilient consumer base with a 5.3% increase in nominal GDP, compared to China's 4.2%. While China's real GDP growth was slightly higher at 5%, continuous challenges like deflation and a struggling property market have hindered its economic performance. The US's elevated inflation has contributed to stronger nominal growth, though it also brings its own set of challenges, indicating an ongoing economic rivalry between the two nations.
Source: YAHOO