\n<\/p>\n
The economic divide between the United States and China is projected to widen to US$11 trillion by the end of the decade, yet escalating geopolitics \u2013 specifically the war in Iran and the ongoing Strait of Hormuz crisis \u2013 could inadvertently act as a stabilising force for bilateral ties, according to a prominent global strategist.<\/p>\n
Kishore Mahbubani, former president of the UN Security Council and once a top diplomat from Singapore, has forecast that the gross-domestic-product disparity between the world\u2019s two largest economies may become more pronounced, and that anyone who believes the US is weakening \u201cought to have his head examined\u201d.<\/p>\n
\u201cThe US still remains the most powerful economy. Even in the 2000s and 2010s, when China grew much faster, the gap in size has not diminished,\u201d Mahbubani said, speaking on Tuesday at the China Conference hosted by the American Chamber of Commerce in Hong Kong.<\/p>\n
\u201c[The gap] has actually grown. In 2020, US GDP was US$21 trillion, China\u2019s was US$15 trillion \u2013 US$6 trillion gap,\u201d he explained. \u201cIn 2030, US GDP is expected to reach US$37.6 trillion and China US$26 trillion \u2013 the gap will go from 6 trillion to 11 trillion.\u201d<\/p>\n
But in a similar vein, he said those saying China may be losing out should also have their heads checked.<\/p>\n
\u201cChina\u2019s emergence has been the single largest transformation in world history \u2026 The size and scale of China\u2019s resurgence in such a short space of time is beyond amazing,\u201d Mahbubani told an audience that included Julie Eadeh, US consul-general in Hong Kong, and Cui Jianchun, commissioner of China\u2019s Ministry of Foreign Affairs.<\/p>\n