LONDON: China’s economy will overtake the United States to become the world’s largest by 2028, according to a report by the British think tank Center for Economic and Business Research.
According to the annual report of the British think tank Center for Economic and Business Research, China has benefited from the economic situation caused by the global corona epidemic.
According to the report, according to economic estimates, China was to defeat the world’s major economies by 2033, but due to the situation after Corona, China’s economy will become the world’s largest economy by 2028.
The think tank says that China has dealt with the epidemic in a highly professional manner by imposing a quick and severe lockdown, while the far-reaching negative effects on the Western economies mean that China’s economic performance has improved slightly.
According to the report, China’s economic growth was projected at 5.7 percent between 2012 and 2025, compared to 4.5 percent.
The think tank says in its report that between 2022 and 2024, US economic growth will slow to 1.9 percent, while Japan will be the world’s third-largest economy in the early 2030s, followed by India. It will replace Japan as the third-largest economy.
The report says that by 2024, the UK economy will be ranked fifth to sixth, while Germany will be ranked fourth to fifth.