China's share of the global GDP rose to 16.8%, while the U.S. economy accounted for 22.2% of global GDP in 2020.[57] By the end of 2024, however, the Chinese economy is expected to be smaller than what was previously projected, while the U.S. economy is expected to be larger, according to the International Monetary Fund's 2021 report on the global economic outlook.[58] The United States' lead is expected to continue for at least a few quarters, the first sustained period since 1990 when the U.S. economy grew at a higher rate than China's.[59]