Printer Friendly

China may overtake US as No. 1 economy.

India likely to become third largest economy by 2028

China is expected to overtake the United States in 2028 to become the world's largest economy, according to a research report.

The London-based Centre for Economics and Business Research (CEBR) said in its annual report 2013 that China's gross domestic product (GDP) in US dollars would overtake the United States in 2028.

"This is later than some analysts have suggested and reflects the continuing performance of the US as the West's strongest economy and the slowing down of the Chinese economy," China news agency, Xinhua, said, citing the report.

Based on CEBR's forecasts, India will overtake Japan in 2028 to become the world's third largest economy. "Japan is likely to follow a weak currency policy for the foreseeable future which means that its GDP in dollar terms gets overtaken by India earlier than we had previously expected," it said.

Brazil overtook the UK in 2011 to become the world's 6th largest economy. But CEBR said that the country had since fallen back but would overtake both the UK and Germany to become the world's fifth largest economy in 2023.

"In 2014, while the Football World Cup is held in Brazil, it still looks likely that Britain will have a larger economy than Brazil," it said. The annual report issued by the CEBR, a leading economic consultancy in Britain, covers the 30 largest economies in the world.

Copyright 2013 Khaleej Times. All Rights Reserved. Provided by Syndigate.info , an Albawaba.com company

COPYRIGHT 2013 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Khaleej Times (Dubai, United Arab Emirates)
Geographic Code:9INDI
Date:Dec 28, 2013
Words:250
Previous Article:12 projects to provide clean drinking water in Pakistan launched.
Next Article:Japan upgrade likely: IMF.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters