If the US were a corporation, it would have accounted for 50 percent of the global economic market in the years immediately after World War II. By 1980, that had declined to 22 percent. Three decades of double-digit Chinese growth has reduced that US share to 16 percent today. If current trends continue, the US share of global economic output will decline further over the next three decades to just 11 percent. Over this same period, China’s share of the global economy will have soared from 2 percent in 1980 to 18 percent in 2016, well on its way to 30 percent in 2040.
