The double whammy for the European Union GDP is Brexit and COVID. In 2019, the EU had a combined GDP of $18.3 trillion. The UK leaving removes $2.5 trillion. COVID removed another 10-12% in 2020. The Jan, 2021 GDP will be after Brexit is official and enacted on Dec 31, 2020. $15.8 trillion after the UK leaves and down 10% from COVID to $14.3 trillion. China should be at $15.0 trillion.
COVID Boosted China’s GDP from 67% of US GDP to 76%
In 2019, China’s economy on an exchange rate basis was about 67% the size of the US economy but now China is at 76% of the US economy. In 2019, the US economy was at $21.4 trillion and China (without Hong Kong) was at $14.1 trillion. In mid-2020, the US economy is at $19.4 trillion and China is at $14.7 trillion. China picked up about 5% on currency