The global economy will now exceed $100 trillion in 2022
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Bloomberg — The global economy is expected to exceed $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Center for Business and Economic Research (CEBR).
The global GDP will be boosted by the continued recovery from the epidemicAlthough inflation persists, it may be difficult for policymakers to prevent their economies from sliding back into recession, the London-based think tank said.
“The big problem in the 2000s is how global economies handle inflation,” said Douglas McWilliams, vice president of CEBR.
We expect a relatively modest adjustment to control for non-temporary items. Otherwise, the world will have to prepare for a recession in 2023 or 2024. ″
In its annual World Economic Association schedule, CEBR also predicts:
- China will overtake the United States. In 2030, two years later than expected a year ago.
- India will regain sixth place behind France next year and become the third largest economy in 2031, one year later than previous forecasts.
- The UK is on track to be 16% larger than France in 2036 despite Brexit
- Germany will surpass Japan’s economy in 2033
- Climate change will reduce consumer spending by $2 trillion annually on average through 2036, as companies shift the cost of “decarbonization” investments.
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