China, America, and The Trade Wars; What Impact To Look Out For?

Impact of China’s Growth on Global Finance According to the nominal GDP facts, China is currently the second-largest economy of the world with $14.3 trillion. Experts believe that China is going to surpass the USA in a maximum of 15 years. The IMF survey depicts that the US-China trade war is not going to have any effect on China's economy, which is projected to grow in 2019 by 6.3%. The question to ask is what will be the effect of China's uprise on global finance. Being four times more populated than the USA, China has a larger workforce and greater production power. With more exports than imports, the trade surplus of China is $26.21 billion which indicates economic health. It can be clearly seen that china has a greater role to play in the global market. Now, let's have a look at how the country achieved all this power and how is it going to change the future of the global economy. Historical Overview of the Chinese Economy The speed wit