Archive for November 9th, 2012

09/11/2012

China Expected to Replace U.S. as World’s Largest Economy by 2016

Human Wrongs Watch

By OECD*, 9 November 2012 – The balance of economic power is expected to shift dramatically over the next half century, with fast-growing emerging-market economies accounting for an ever-increasing share of global output, according to a new OECD report.

Source: OECD calculations

Divergent long-term growth patterns lead to radical shifts in the relative size of economies, according to this report by the Organisation for Economic Co-operation and Development (OECD), which groups 34 most industrialised countries.

The United States is expected to cede its place as the world’s largest economy to China, as early as 2016. India’s GDP is also expected to pass that of the United States over the long term. Combined, the two Asian giants will soon surpass the collective economy of the G7 nations.

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