The Strategist

Global economy to surpass $100T mark in 2022

12/27/2021 - 09:09

According to the Centre for Economics and Business Research (CEBR) in the United Kingdom, the global economy will surpass $100 trillion for the first time in 2022, says Bloomberg.

As a result, this figure will be attained two years sooner than expected.

In terms of GDP, China will take two years longer than previously forecasted to catch up to the United States. This is expected to happen in 2030, according to analysts.

At that, the Chinese economy's development rate will gradually slow: until 2025, GDP volume will expand at a pace of 5.7 percent annually, 4.7 percent annually from 2025 to 2030, and only 3.8 percent annually over the next five years.

The Indian economy will continue to grow: it is expected to pass France next year, and by 2023, it will pass the United Kingdom to become the world's sixth largest economy.