[ad_1]
China is likely to become the world’s largest economy five years earlier than expected. This is what the Center for Economic and Business Research is waiting for.
China According to British economic experts, the United States will replace the world’s largest economy starting in 2028, five years earlier than expected. As the Center for Economic and Business Research (CEBR) explained in its annual report published on Saturday, it is recovering China faster and stronger from the crown crisis than America.
“Favoring the Covid-19 pandemic and associated economic effects China in this rivalry, “the economists write. The success of his own tough measures against Corona and the setbacks for long-term economic growth in the West Chinese relative economic strength improved.
China Last year, with a gross domestic product of $ 14.4 trillion (€ 11.8 trillion), it still lagged far behind the US at $ 21.4 trillion. However, the CEBR predicts an average annual growth of 5.7 percent for the People’s Republic from 2021 to 2025, and 4.5 percent for the years 2026 to 2030.
Japan is still number three, for now
The United States will recover vigorously from the pandemic in 2021, but will only grow by 1.9 percent annually between 2022 and 2024, an average of 1.6 percent thereafter. Japan is estimated to remain the world’s third-largest economy for the time being until it is overtaken by India in the early 2030s. Germany will then slide to fifth place from its current fourth place.
The CEBR expects Austria to slide from its current 28th place to 41st in 2035.
>> To the CEBR forecast
(APA / Reuters / Red.)
