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World Economy

  • IASbaba
  • December 27, 2021
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World Economy

Part of: Prelims and GS-III – Economy

Context India looks set to overtake France next year and then Britain in 2023 to regain its place as the world’s sixth biggest economy.

Key takeaways 

  • In a report released, the British consultancy CEBR said the world’s economic output will exceed 100 trillion dollars 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.
  • CEBR predicted China will become the world’s top economy in dollar terms in 2030.
  • 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.

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