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World economy to top $100 trillion in 2022 for first time: report

World economy to top $100 trillion in 2022 for first time: report
World economy to top $100 trillion in 2022 for first time: report   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">LONDON</span> – 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, a report showed on Sunday.</p> <p>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.</p> <p>India looks set to overtake France next year and then Britain in 2023 to regain its place as the world’s sixth biggest economy, Cebr said.</p> <p>“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.</p> <p>“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.”</p> <p>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. </p> <p/> </div>