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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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