Posted on 12/26/21
| News Source: i24
China is also expected to lag slightly in surpassing the United States as the world’s largest economy
In 2022, the world’s economic output will surpass $100 trillion for the first time, according to a report published Sunday.
The findings, known as the World Economic League Table report, were released by the Centre for Economics and Business Research (Cebr), a leading United Kingdom economic consultancy firm.
Cebr’s report also forecasted that China will lag more along its timeline to surpass the United States as the world’s largest economy, altering a previous prediction.
While last year’s World Economic League Table anticipated China’s economy would eclipse the US’ in terms of dollars by 2028, this year’s report changed the predicted date to 2030.
“The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8 percent in the US,” Cebr founder Douglas McWilliams explained.