In 2021, China’s economic momentum will drive global economic prospects. But new trade wars could derail global recovery, again. In the 1st quarter of the ongoing year, China’s GDP rose to a record 18.3% year-on-year. Despite the base effect, due to the pandemic plunge a year ago, the performance reflects strong momentum. In April, China’s economy continued to boom, with strong exports and rising business confidence supporting the recovery. U.S. economic growth accelerated in the 1st quarter, thanks to a rush of consumer spending. The GDP expanded at a 6.4% annualized rate; the second-largest since 2003. But it missed the estimates by 0.3 percent. Moreover, it was fueled by two rounds of huge stimulus payments, ultra-low interest rates and historical debt-taking.