China's overtaking of U.S. economy delayed to 2033, report says

South Koreans and Taiwanese to earn more than Japanese starting in 2027: JCER

Xi Jinping will have to wait several years longer before the Chinese economy overtakes the U.S.'s, partly thanks to a big spending package Joe Biden shepherded through Congress. (Nikkei montage/AP)

IORI KAWATE and RYOHEI YASOSHIMA, Nikkei staff writers

December 15, 2021 12:00 JST

TOKYO/BEIJING -- The size of China's economy is not expected to surpass that of the U.S. until 2033, rather than 2029 as predicted a year ago by the Japan Center for Economic Research, whose latest forecast says Beijing is damaging the country's growth potential by clamping down on its tech and other big industries.

The report, issued on Wednesday, also cites China's ongoing decarbonization drive as well as some big debt burdens, one of which has the Evergrande real estate empire teetering, as drags on growth.