• World Economy To Top $100 Trillion In 2022 For First Time: 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
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    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, according to a report shown on Sunday.

    As predicted by British consultancy Cebr, China will become the world’s top economy in dollar terms in 2030, which is two years later than forecast in last year's World Economic League Table report.

    Cebr in its report stated that India looks set to overtake France next year and then Britain in 2023 to regain its place as the world’s sixth-biggest economy.

    Deputy Chairman of Cebr Douglas McWilliams said, “The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8% in the US.”

    "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,” he added.

    The report also showed that Germany was on track to overtake Japan in terms of economic output in 2033. Furthermore, Russia could become a Top 10 economy by 2036 and Indonesia looks on track for ninth place in 2034, as per the report.

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