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EconomyOur insights on the global economy, business environment and the world’s major cities inform business strategy and pinpoint opportunities and risks.
An economic milestone will be reached this year as China overtakes the USA to become the world’s largest economy in PPP terms. Beneath this headline there remain important differences between the two countries with China significantly lagging in key indicators such as income, consumer expenditure and car ownership. In terms of savings, the difference between the two is notably narrower indicative of China’s entrenched household savings habit and the relaxed attitude to credit in the USA.
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