Next China: US Could Finally Win GDP Growth Race

China’s economy has grown faster than the US’s every year for more than four decades — a point of pride in Beijing. But this year could be different. China may undershoot its rival for the first time since 1976 due to Covid lockdowns.

The world’s second-largest economy will grow just 2% this year, compared with 2.8% for the US, according to estimates from Bloomberg Economics. While China's economy is being constrained by President Xi Jinping’s unyielding Covid Zero policy, the US is being propelled by strong hiring and consumer spending even as it struggles with high inflation.