Chinese 100, 50, 20, 10 and 5 yuan bills and Russian 1,000 and 100 ruble bills - Sputnik International
Economy
Get breaking stories and analysis on the global economy from Sputnik.

China to Surpass US to Become Largest Economy in 2025: Report

© East News / ImaginechinaThe Shanghai Stock Exchange Composite Index climbed 1% to 2,630.49 at its close on Wednesday,
The Shanghai Stock Exchange Composite Index climbed 1% to 2,630.49 at its close on Wednesday, - Sputnik International
Subscribe
According to the Centre for Economics and Business Research, China now overtakes the US to become the world's largest economy in 2025. The research organization made the forecast as part of its annual World Economic League Table.

China to Start Payments With Russia in National Currencies on December 29 - Sputnik International
China to Start Payments With Russia in National Currencies on December 29
MOSCOW, December 26 (Sputnik) — China is set to eclipse the United States as the world's largest economy in 2025, the Centre for Economics and Business Research (CEBR) predicted in a report Friday.

"China now overtakes the US to become the world's largest economy in 2025 rather than 2028 as we thought a year ago," the report said.

The research organization made the forecast as part of its annual World Economic League Table.

The GDP of the Unites States, currently $17.5 trillion, exceeds that of China by about $7 trillion. However, the organization projects that this will change, particularly after China made revisions to its GDP figures and "added an amount as large as the whole Malaysian economy."

Serbian financial institutions can now accept China's currency, the yuan, for the settlement of international trade, underscoring the growing economic ties between the two nations, the National Bank of Serbia has announced. - Sputnik International
Chinese Yuan Now Accepted by Serbian Central Bank
CEBR report also reveals that the economy of the United Kingdom has done better, to snatch the fifth position in the world, leaving France in sixth. The United Kingdom's GDP grew to $2.8 trillion in 2014.

CEBR suggests that this position may not be retained by the United Kingdom for long as it expects India's economy, which currently stands at ninth in the table, will outstrip Britain's in 2018.

Japan and Germany came third and fourth respectively in the CEBR's World Economic League Table 2015, with Brazil, Italy, and Russia occupying seventh, eighth and 10th places respectively. The report notes Russia's drop in two places to 10th position from its 2013 ranking has been caused by the depreciation of the ruble and the low price of oil.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала