As we approach a new year, we need a fortune teller to predict what the future holds. Therefore, the new British Center for Economic and Business Research (CEBR) report 2022, may be sufficient. In this report, the Chinese economy is expected to become the largest by 2030. A study of developments in the world until 2036 – the previous report was expected to take place in 2028. Two extra year changes have changed a lot with her. Who knows, the next 9 years may be enough to live up to the expectations of this report.
What are the developments based on this report, we can expect that in the next 9 years the competition in the world will take place between 5 countries namely China, USA, India, Japan and Germany. China will take the position of the United States in 2030. According to India, it will overtake Japan to become the world’s third largest economy by 2031. Therefore, Japan faces great challenges because it will compete not only with India but also with Germany. By 2036 it will be the fourth largest economy in the world – Japan is the fifth largest. As for the competition between the following five countries group, it will take place between the United Kingdom, France, Indonesia, Brazil and Russia. But the latter would describe it as a result of its military might, which in some respects surpasses the United States among rivals in the first group. Russia may be the most viable in the global struggle for leadership. That is why we note that the United States and China are seeking to get closer to it.
Our country will be among the countries that will improve its position in the next 15 years. By 2036, the kingdom’s GDP will grow to 17th in the world. Therefore, it will coordinate its positions and be at the top of the group of countries that attract more attention regionally and globally.
The meaning of this significant development for our country is that Vision 2030 has begun to deliver results in the field. Restructuring the economy will lead to an increase in the activity of the private sector. This will accelerate the growth of the non-oil economy on the one hand and change the structure of GDP on the other. As a result, the employment index in the economy will rise, which will lead to a reduction in the unemployment rate and an increase in household income.
Every year, our country and its residents get better.
* Step Riyadh
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