Economics

Summers Says China-Surpassing-US Is Japan 1990 All Over Again

Former Treasury chief sees parallels with past predictions
Summers says China economy now facing all kinds of challenges

WATCH: Former Treasury Secretary Lawrence Summers see parallels in China-surpassing-US talk to Japan in 1990.Source: Bloomberg

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By Chris Anstey

August 18, 2022 at 5:34 PM UTC

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Former Treasury Secretary Lawrence Summers said that predictions for the size of China’s economy to exceed that of the US have parallels to failed historical calls for Japan and Russia to do the same thing.