China to become the top economy in dollar terms in 2030, two years later than previously forecast, while India looks set to overtake France next year and then Britain in 2023 – report
According to the same report, India looks set to overtake France next year and then Britain in 2023 to regain its place as the world's sixth-biggest economy.
The world's economic output will exceed $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. British consultancy Cebr predicted on Saturday that China will become the world's top economy in dollar terms in 2030, two years later than forecast 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-biggest economy, Cebr said.
"The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8 percent in the US," said Cebr deputy chairman Douglas McWilliams. "We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024."The report showed Germany was on track to overtake Japan in terms of economic output in 2033. Source: TRTWorld and agencies
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China reports 140 new COVID-19 cases on Dec 24 vs 87 a day earlierChina reported 140 new confirmed coronavirus cases for Dec. 24, up from 87 a day earlier, its health authority said on Saturday.
Read more »
Warming relations between Russia and China pose challenge for BidenThe increasingly warm relations between China and Russia are raising eyebrows, as well as the potential stakes, across the Western world, but the tensions with Washington have been building for months.
Read more »
Western states need united front against divisive China - TrudeauWestern countries should have a united front against China to prevent the Asian state from using commercial interests to play them against each other, Canadian Prime Minister Justin Trudeau said in an interview aired on Saturday.
Read more »
China proposes tighter rules but no ban for offshore listingsChina's securities watchdog on Friday proposed tightening rules governing Chinese companies listing abroad, which it said would improve oversight while allowing them to continue to do so, the latest in a spate of regulatory moves by Beijing in 2021.
Read more »
Rhino horn discovered in shipment of chocolate en route to China, police sayEven though the horns are made of keratin and have no known medicinal properties, some people think the horns cure ailments such as hangovers and cancer.
Read more »
Here's what I got right and wrong on stocks, bitcoin and China this year — and my predictions for 2022OPINION: After quickly running to the $60,000s and falling back in half in 2021, will Bitcoin have a tough year in 2022? Columnist codywillard weighs in.
Read more »