China's economy set to overtake U.S earlier due to Covid fallout
BEIJING - The Chinese economy is set to overtake the U.S. faster than previously anticipated after weathering the coronavirus pandemic better than the West, according to the Centre for Economics and Business Research.
The world’s biggest and second-biggest economies are on course to trade places in dollar terms in 2028, five years earlier than expected a year ago, it said on Saturday.
In its World Economic
League Table, the consultancy also calculated that China could become a high-income economy as soon as 2023.
Further cementing Asia’s growing might, India is set to move up the rankings to become the No. 3 economy at the end of the decade.
Cinese President Xi Jinping said last month it was "entirely possible" for his economy to double in size by 2035 under his government’s new Five-Year Plan, which aims to achieve "modern socialism" in 15 years.
China was the first economy to suffer a pandemic blow, but has recovered swiftly, according to government data. That should prompt Western economies to pay much more attention to what is happening in Asia, according to the report.
"Typically, we compare ourselves with other Western economies and miss out on what often is best practice, especially in the rapidly growing economies in Asia," it said.
WASHINGTON - US President Donald Trump has bashed leading US lifestyle magazines for not giving his wife, Melania Trump, a single front page cover while he has been in office.
In a tweet, Trump called the First Lady “the greatest of all time,” while retweeting a Breitbart post that said “elitist snobs in the fashion press” were ostracising the “most elegant First Lady in American history.” “Fake News!” Trump added. Trump fans have long noticed and lamented the absence of the First Lady from US news stands, and often accused the US press of revealing their liberal bias by granting Michelle Obama, the wife of former president Barack Obama, 12 magazine covers in her two terms as First Lady, including three Vogue covers. “If you need any further proof of the shameless bias of the liberal mainstream media, the most stunning First Lady in American history has never graced our nation’s major style magazine covers,” US actor and Trump supporter James Woods tweeted in February 2020.
Several leading fashion magazines have taken a political stance over the president, most notably Vogue.
In an April 2019 interview with CNN, Vogue editor Anna Wintour said: “You have to stand up for what you believe in and you have to take a point of view.”
However, Melania Trump drew criticism from Vogue readers and magazine publishers in February this year over comments she made during a leaked private phone call about Wintour’s decision to let Beyoncé guest-edit an issue of the magazine.–
as Trump bashed fashion magazines for not giving Melania a single cover shoot