Donald Trump's United States faces economic downturn. Will China outpace World's largest economy?
Donald Trump is scheduled to take charge as the President of United States of America on January 22 and will announce a slew of policy-related decisions. However, the US is likely to witness a slow GDP growth in 2025.
The world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8 per cent in 2025, the United Nations said Thursday. In «World Economic Situation and Prospects 2025,» UN economists wrote that their positive prediction was driven by the strong although slowing growth forecast for China and the United States and by the robust performances anticipated for India and Indonesia. The European Union, Japan, and United Kingdom are expected to experience modest recovery, the report says.
The report says the US economy outperformed expectations last year thanks to consumer and public-sector spending, but growth is expected to slow from 2.8% to 1.9 per cent this year.
The report points out that China sees its own strong growth slowing slightly from 4.9 per cent in 2024 to 4.8 per cent in 2025 due to lower consumption and property-sector weaknesses that are failing to make up for public investment and export strength. This is forcing the government to enact policies to lift property markets, fight local government debt and boost demand.
China's «shrinking population and rising trade and technology tensions, if unaddressed, could undermine medium-term growth prospects,» the report reads.
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