The catastrophic US response to coronavirus is allowing China to stake its claim as the world's dominant superpower, former Fed chair Greenspan says
The failure of the US to effectively combat the COVID-19 crisis has opened the door to China becoming the world's dominant superpower, former Fed chairman Alan Greenspan has said.
While the economist said that US will enjoy less dominance this century, he highlighted some reasons that its economy is not entirely replaceable. Economic power-play for the upcoming generation will be defined on the basis of the relationship between the US and China, he said in afor Advisors Capital Management, saying that the Trump administration's shoddy response has opened the door to Chinese dominance.
Greenspan said that the US economy had"lost its way" at a time when China is enjoying relative success and embracing its ambition to become the dominant world superpower by 2049. Asian power that was the first to see a rebound since the start of the pandemic"The resurgence of the virus in the US threatens to forestall our economic recovery.
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