Bloomberg comments: "The U.S. economy will grow a bit faster than China. Huh? That's not a typo. It's one of the projections in a fascinating OECD paper sketching scenarios for the world through 2060. Other developments canvassed: China's share of global output peaks in the 2030s and then declines while India's slice keeps rising. Indonesia's economy catches up to its population.     The forecast for the U.S. to outstrip China is not a prediction of any economic miracle in America — just an acknowledgment that China has set itself up for a brutal demographic collapse. Shortly after China overtakes the U.S. economy in size, all the legacies of the one-child policy coalesce as the society seriously ages, stalling out the Middle Kingdom's expansion. The U.S. will face demographic challenges, too, but nothing like this.Between 2030 and 2060, this paper projects, gross domestic product in the U.S. will grow at an average of just under 2 percent a year. Not too different from the past decade. China will expand an average of 1.8 percent a year, a smidge behind the U.S., but a vast change from the low double digits we've seen in recent decades.

Reuters reports that China is still determined to reform and wants to work with all parties to build an open world economy, Chinese President Xi Jinping said on Sunday, reiterating Beijing's message amid a bitter trade war with Washington. The two countries have been rolling out a series of tariffs on each other's exports as U.S. President Donald Trump's administration seeks to tackle a range of issues from the large trade imbalance with China to forced technology transfers. Meeting U.N. Secretary-General António Guterres in Beijing ahead of a major China-Africa summit, Xi made no direct mention of the trade tensions with the United States, referring instead to "unilateralism and protectionism rearing its head". "China's determination to fully deepen reforms will not change," China's Foreign Ministry paraphrased Xi as telling Guterres. "We are willing to use practical actions to drive all parties to jointly adhere to trade liberalization and facilitation and build an open world economy," Xi added. China has criticized the United States for resorting to protectionist and unilateral measures and says it will keep opening up its economy, providing a fair and transparent environment for foreign businesses.