The U.S. will remain richer than China for the next 50 years or more, says economist

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• The U.S. will remain wealthier than China — measured by GDP per capita — for at least the next 50 years, said Simon Baptist, global chief economist at the Economist Intelligence Unit.
  
• His comment followed Joe Biden’s first official press conference since taking office, during which the U.S. president said he will not let China become “the leading country” globally.
  
• The latest available data by the International Monetary Fund showed China’s GDP per capita was forecast to be $10,582.10 last year, roughly six times smaller than $63,051.40 in the U.S.
  

The U.S. will remain wealthier than China for the next 50 years or more — long after the Asian economy is expected to overtake the U.S. to become the world’s largest, an economist said on Friday. 

“I think it’s very unlikely that ... China will get to U.S. levels of GDP per capita — that’s our measure of wealth — for at least the next 50 years if ever,” Simon Baptist, global chief economist at the Economist Intelligence Unit, told CNBC’s “Street Signs Asia.”

GDP per capita measures an economy’s output per person and is a common gauge of prosperity.

The latest International Monetary Fund data available showed China’s GDP per capita was forecast to be $10,582.10 in 2020 — roughly six times smaller than $63,051.40 in the U.S.

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