TOKYO -- China's nominal gross domestic product is unlikely to surpass that of the U.S. in the next few decades, the Japan Center for Economic Research said in an estimate, dropping a forecast last year that the world's two largest economies would switch places in 2033.
The Chinese economy will slow as a result of its stringent zero-COVID policy and stronger U.S. restrictions on exports to China, the Nikkei-affiliated think tank said Wednesday. Over the long term, labor shortages stemming from the country's dwindling population will act as a drag on its economic growth, it added.
