News Snapshot:
China’s economy is likely to lag further behind the United States in dollar terms this year due to red-hot inflation, and the country should be “mentally prepared” for Western hype, a leading Chinese economist has said. Although China’s annual growth rate is forecast to better that of the US, the US$5 trillion gap in economic output between the two countries might expand based on spot dollar calculations, according to David Li Daokui, a professor at Tsinghua University and a former adviser to China’s central bank. American gross domestic product (GDP) will be magnified by a much higher inflation rate, coupled...
