This chart shows how China will soar past the U.S. to become the world’s largest economy by 2030. Meanwhile, the total GDP of the global economy is predicted to double between 2022 and 2035, reports Fortune.
The predicted value
According to the latest projections by London-based economic consulting firm CEBR the world economy is poised to reach a remarkable milestone in 2022:
- Total annual GDP will soar past $100 trillion for the first time,
- two years earlier than previously forecast
Perhaps even more notable is that total GDP is predicted to then double to $200 trillion by 2035. In part, the current surge reflects how effectively the world’s biggest economies have adjusted to the pandemic.
Inflation’s role
But rising inflation, particularly in the U.S., is playing an even bigger role in driving up GDP right now than true organic growth, says Karl Thompson, an economist at CEBR. Looking ahead, China is expected to pass the U.S. as the world’s largest economy in 2030.
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Source: Fortune
