Question : British consultancy CEBR’s 13th edition of ‘World Economic League Table’ released on December 2021. Accordingly, which of the following statement is correct ?
a. World economy will exceed $ 90 trillion in 2022
b. World economy will exceed $ 100 trillion in 2022
c. World economy will exceed $ 70 trillion in 2022
d. None of the above
Ans. b.
Related facts —
- British consultancy CEBR’s 13th edition of ‘World Economic League Table’ released on December 2021.
- According this, China will become the world’s top economy in dollar terms in 2030 and it will take China a little longer than previously thought to overtake the United States as the No. 1 economy
- In last years’s prediction, CEBR had said that China would overtake the US to become the world’s largest economy by 2028.
- CEBR had said China’s “skilful” management of Covid-19 would boost its relative growth compared to the US and Europe in coming years.
- While India looks to overtake France next year and then Britain in 2023 to regain its place as the world’s sixth biggest economy.
- The World economy will exceed $ 100 trillion for the first time next year.
- The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8 per cent in the US.
- Other key predictions of the report —
- Germany was on track to overtake Japan in terms of economic output in 2033.
- Russia could be a Top 10 economy by 2036 and Indonesia looks on track for ninth place in 2034.