China is running out of steam in the race for the throne with the US.

For the first time in nearly a decade, the GDP gap between the two economies (in USD terms) widened.

The US GDP increased by $590 billion in 2015 compared to the same period last year, according to figures released last weekend. Meanwhile, the Chinese economy grew by 6.9%, equivalent to an additional $439 billion. The weaker yuan also caused GDP converted into dollars to decrease.

"The US has come back from the financial crisis. Technological breakthroughs have led the country's growth. Meanwhile, China's economy has declined. These figures in themselves are not the only reason for optimism or pessimism. But if China cannot successfully reform its economy, the real gap between the two countries will widen. And it will take China more time to catch up with the US," said Niu Jun, a professor of international relations at Peking University.

GDP gap, in billions of US dollars, between the US and China since 1993.

Last year was the first time since 2006 that China made no progress in closing the gap with the world’s largest economy. While the US economy grew 2.4% for the second year in a row, China’s growth was the slowest in 25 years, as traditional growth engines like heavy industry and exports gradually slowed.

In 2016, China's economy is forecast to grow by 6.5%. Meanwhile, the yuan could depreciate by 7% against the dollar.

"Whether China can catch up with the US in dollar terms is less important than whether it can maintain a sustainable growth rate. As long as China's GDP can grow by 5% per year over the next decade, it will only be a matter of time before it surpasses the US," concluded Xia Le, an economist at Banco Bilbao Vizcaya Argentaria.

According to VNE