Global economy to exceed $100 trillion in 2022

KABUL (Pajhwok): 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 media report 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.

“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.

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