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World economy to top $100 trillion in 2022 for first time: report

Economic IndicatorsDec 25, 2021 07:25PM ET
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© Reuters. FILE PHOTO: Women pose for pictures at a shopping mall near the CCTV headquarters and China Zun skyscraper in Beijing's central business district (CBD), China, July 16, 2020. REUTERS/Tingshu Wang

LONDON (Reuters) - 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, a report showed on Sunday.

British consultancy Cebr predicted 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% in the U.S.," 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. Russia could become a Top 10 economy by 2036 and Indonesia looks on track for ninth place in 2034.

World economy to top $100 trillion in 2022 for first time: report
 

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Comments (5)
Dec 26, 2021 3:30PM ET
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China ofcourse, joe biden , is making them great !… but its an end of White oppression rule on earth , China will surpass America befor 2023 Then Africa republic will surpass China …. All this superpower economies are gaining from just 3% of african real resources , there are resources that are spiritually hidden by God of which foreigners will never discover !!… Mineral resources are spiritual they ar waiting for Africa , the real biggest economic superpower in the universe !… the worlds biggest country !!
Chad RicherThanYou
Chad RicherThanYou Dec 26, 2021 3:13PM ET
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China is loving all these american consoomers giving them fiat dollars. China is building the largest infrastructure project in world history and stockpiling gold. The USD will lose reserve status in 5 years tops.
Raw Quantum
Raw Quantum Dec 25, 2021 9:42PM ET
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…..with $226 trillion debt
Dec 25, 2021 9:42PM ET
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Owing who exactly ??
Yankee Steve
Yankee Steve Dec 25, 2021 8:13PM ET
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My opinion is the world financial system will collapse between mid-2023 or 2024.
Dec 25, 2021 8:13PM ET
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Will collapse in March 2022Bitcoin will take over
Dec 25, 2021 8:06PM ET
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The relativity of economics.
 
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