The Chinese economy is seemingly on the path to recovery from the COVID-19 fallout, raising the possibility of the gap between the world’s leading economies - the United States and China - narrowing at an accelerated pace.

According to China's National Bureau of Statistics on Monday, the Chinese economy expanded four-point-nine percent in the third quarter.

After contracting six-point-eight percent amid the rapid spread of the virus in the first quarter, the Chinese economy grew three-point-two percent in the second quarter.

While the International Monetary Fund(IMF) forecast the Chinese economy to expand one-point-nine percent this year and eight-point-two percent in 2021, USB economist Wang Tao projected China's gross domestic product(GDP) to surpass that of the U.S. by 2030.