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| The impressive skyline of Shanghai. |
China will surpass the United States to become the world’s largest economy
by 2026 and maintain the leading position up to 2050, according to a report
from the Intelligence Unit research arm of The Economist.
The report predicts that China’s nominal GDP will reach $28.6 trillion by 2026. In line with their estimations, that number will reach $105.9 trillion by 2050, US nominal GDP reaching $70.9 trillion in the same period.
The report predicts that China’s nominal GDP will reach $28.6 trillion by 2026. In line with their estimations, that number will reach $105.9 trillion by 2050, US nominal GDP reaching $70.9 trillion in the same period.
The report also claims that India will likely replace Japan as the world's
third-largest economy.
Patricia Morton, lead economist at The Economist Intelligence Unit said: “Given China’s and India’s economic might, they will take on a much bigger role in addressing global issues. This will require the world’s existing powers — notably the US — to let India, and especially China, play a greater role on the world stage and adapt international institutions to allow them to exert greater influence.”
Patricia Morton, lead economist at The Economist Intelligence Unit said: “Given China’s and India’s economic might, they will take on a much bigger role in addressing global issues. This will require the world’s existing powers — notably the US — to let India, and especially China, play a greater role on the world stage and adapt international institutions to allow them to exert greater influence.”
Source: gbtimes
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