'Difficult for US to accept it's no longer largest economy by PPP': Economist Stiglitz| HTLS 2026

China’s economic rise is reshaping the global balance of power, says Dr Joseph E. Stiglitz at the Hindustan Times Leadership Summit 2026. Discussing the shift towards a multipolar world, Stiglitz points to China overtaking the US in GDP measured by purchasing power parity (PPP)—a milestone he says neither country publicised at the time. He also discusses China’s manufacturing strength and the challenges the US faces in accepting a changing economic order.