Biden: US Economy Could Grow Faster Than That of China

By Staff, Agencies

US President Joe Biden says the US economic growth could surpass that of China and reach record rates in 2022.

"Independent experts have even projected that the US economy could grow faster than China’s economy this year. That hasn’t happened since 1976," Biden said on Twitter on Sunday.

The US president added that 10.5 million jobs have been created in the United States since he took office.

According to the International Monetary Fund [IMF], China’s economic growth is projected to stand at 3.2% this year and is expected to rise to 4.4% in 2023. Meanwhile, US economic growth in 2022 is expected to be around 1.6%.

On Friday, a Canadian-based news agency polled economists who said they expected the US to see a "short and shallow" recession next year. Meanwhile, US Treasury Secretary Janet Yellen said on Thursday that she thinks a recession is "not inevitable."