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US economy in historic slump

April 30, 2020

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Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft. In 2014, according to the World Bank’s international comparison program, the Chinese economy overtook that of the US to become the world’s largest, measured by purchasing power parity. This is the story, as pertaining to the past decade, of the most remarkable economic transformation in human history. Unsurprisingly the west is finding the phenomenon difficult to come to terms with, displaying a kaleidoscope of emotions from denial, dismissal and condemnation to respect, appreciation and admiration; though there is presently much more of the former than thelatter. The west believed that China would for long remain essentially defined by imitation, unable to match the west’s capacity for innovation. Shenzhen has come to rival Silicon Valley – while Huawei,Tencent and Alibaba can be counted in the same league as Microsoft, Goog

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