World economic output will surpass $100 trillion for the first time next year, and it will take China a little longer than previously thought to overtake the United States as the No. 1 economy, a report showed on Sunday (26).
British consultancy Cebr has predicted that China will become the world’s biggest dollar economy by 2030, two years later than predicted in last year’s World Economic League Table report.
India looks set to overtake France next year and then Britain in 2023 to regain its place as the world’s sixth-largest economy, Cebr said.
“The important question for the 2020s is how the world’s economies deal with inflation, which has now reached 6.8% in the US”, said the vice president of Cebr, Douglas McWilliams.
“We hope that a relatively modest adjustment to the rudder will bring the non-transient elements under control. Otherwise, the world will need to prepare for a recession in 2023 or 2024.”
The report showed that Germany was on track to overtake Japan in terms of economic output in 2033. Russia could become one of the top 10 economies in 2036 and Indonesia is expected to be on track to ninth place in 2034.
Reference: CNN Brasil
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