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The world economy is set to cross $ 100 trillion in 2022 for the first time in history, or two years earlier than previously expected.
The Center for Economic and Business Research in London has warned that global GDP will continue to rise as it continues to recover from the epidemic, although policymakers say it will be difficult to avoid a recession as inflation continues.
For his part, Douglas McWilliams, vice chairman of the Board of Directors of Thought, said that, according to Bloomberg, “the key issue of the 1920s was how world economies dealt with inflation.”
“We hope that the relatively moderate adjustment will bring the temporary elements under control, but otherwise the world will have to prepare for a recession in 2023 or 2024,” he added.
These projections are in line with the International Monetary Fund’s estimates, measured in dollars worldwide GDP that will cross the $ 100 trillion barrier by 2022.
Among the center’s most important economic forecasts; By 2030, China will overtake the United States in terms of economic size; That is, two years later than expected a year ago, India will be the sixth largest economy in the world by 2031, one year later than previous expectations, ranking sixth from France.
Despite Britain’s exit from the European Union, the UK economy will be 16% larger than France’s in 2036, and Germany will overtake Japan in 2033.
Climate change will reduce consumer spending by an average of $ 2 trillion by 2036 because companies will pass on the cost of decarbonization investments to consumers.
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