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HomeBusinessWorld economy will touch new heights in 2022, will cross $100 trillion...

World economy will touch new heights in 2022, will cross $100 trillion for the first time

Highlights

  • Russia may become top 10 economy by 2036
  • Indonesia on its way to ninth place in 2034
  • China will become the world’s top economy in terms of dollars in 2030

London
The world’s economic output will cross $100 trillion for the first time next year. Also, it will take a little longer than before for China to overtake the United States as the number 1 economy. This was stated in a report released on Sunday. British consultancy Cebr has projected that China will become the world’s top economy in dollar terms in 2030, a two-year delay from last year’s World Economic League Tables report.

Cebr said that India is set to regain its position as the world’s sixth-largest economy by overtaking France next year and then the UK in 2023. Cebr deputy chairman Douglas McWilliams said the key issue for 2020 is how world economies deal with inflation, which has now reached 6.8% in the US. We expect a relatively minor adjustment to get the non-transient elements under control. If not, the world will need to prepare itself for a recession in 2023 or 2024.

Germany will be ahead of Japan in 2033
The report shows that Germany is on track to overtake Japan in terms of economic output in 2033. Russia could become the top 10 economy by 2036 and Indonesia is on its way to ninth place in 2034.

Also read: GST: In the new year, shoes-slippers-clothes will be expensive, e-commerce company can also increase the price, know what is the reason?

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