China's Economic Growth Continues to Challenge the US
TL;DR Summary
China's economy can continue to outgrow the US economy, despite its weaker-than-expected rebound from COVID restrictions, according to former Treasury official Steven Rattner. China has grown 14% since 2020, while the US grew by 6%, and this year China is expected to grow 5.2% compared to 1.6% in the US. Rattner warned Americans against any illusions that suggest otherwise and urged the US to get "our own house in order" by addressing the large budget deficit, changing regulation that inhibits industrial expansion, and encouraging a STEM workforce to maintain US technological prowess.
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