The world economic output is set to exceed $100 trillion for the first time ever in 2022, according to a report by the Centre for Economics and Business Research (CEBR), one of the UK’s leading economics consultancies.
More Details🧐 The CEBR’s report predicted that China will take a little longer (2030) than previously expected (2028) to overtake the U.S. as the world’s largest economy. The report also predicts India’s economy to be bigger than France’s next year, & bigger than the UK’s by 2023.
Why is this Important🤔 The report stated that global gross domestic product (GDP) will be fueled by recovery from the pandemic, but also warned of a potential recession if inflation is not kept under control next year.
