U.S. Economy Hits Historic Low Under Biden
Economy
During President Joe Biden’s term, the U.S. share of the global economy has fallen below 15 percent for the first time, reaching a record low of 14.76 percent, according to RIA Novosti.
Based on data from the World Bank and the International Monetary Fund, the U.S. share peaked at 21.01 percent in 1999, after which it began a steady decline. The last increase was during Barack Obama’s second term.
Under Biden, the decline continued, and by the end of 2023, the U.S. share dropped to 14.82 percent.
Meanwhile, China’s share of the global economy has surged to 18.76 percent since 1990, while Japan experienced significant losses, reducing its share by 4.33 percentage points.
Under Biden, the decline continued, and by the end of 2023, the U.S. share dropped to 14.82 percent.
Meanwhile, China’s share of the global economy has surged to 18.76 percent since 1990, while Japan experienced significant losses, reducing its share by 4.33 percentage points.
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