The world economy will exceed $ 100 trillion for the first time in 2022, two years ahead of schedule, according to a report by the Center for Economic and Business Research (CEBR) collected by the agency Reuters.
For the analysts of this British consultancy, the world Gross Domestic Product (GDP) will be boosted by the continued recovery from the pandemic, although if inflation persists it will be difficult for political leaders to prevent their economies from falling back into the arms of recession .
“An important issue for the 2020s is how world economies will cope with inflation,” said Douglas McWilliams, vice president of CEBR. “We expect a relatively modest adjustment to bring non-transitory elements under control. Otherwise, the world will have to prepare for a recession in 2023 or 2024,” he says.
As the report states, China will take a little longer than it had planned to overtake the United States as the world’s number one economy. Specifically, the Asian country will assault the economic throne in 2030, two years later than expected.
India will regain sixth position in 2022 and Germany will overtake Japan in 2033
For its part, India will regain sixth place, surpassing France in 2022 and then the United Kingdom in 2023, achieving third place in 2031. The British country’s economy will become 16% larger than France in 2036 despite of Brexit.
In addition, Germany, the current fourth world economic power, will improve Japan in 2033 and Russia would become one of the ten most powerful economies in 2036, while Indonesia would be ninth (now it is sixteenth) in 2034.
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