- Write by:
-
Monday, December 27, 2021 - 13:51:54
-
794 Visit
-
Print
Mining News Pro - The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research.
Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers to avoid tipping their economies back into recession, the London-based think tank said.
“The important issue for the 2020s is how the world economies cope with inflation,” said Douglas McWilliams, the CEBR’s deputy chairman. “We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024.”
The forecast is in line with estimates of the International Monetary Fund, which also predicts global GDP measured in dollars and in current prices will pass $100 trillion in 2022.
In its annual World Economic League Table, the CEBR also predicted:
- China will overtake the U.S. in 2030, two years later than forecast a year ago
- India will regain sixth position from France next year and become third largest economy in 2031, a year later the previously predicted
- The U.K. is on track to be 16% larger than France in 2036 despite Brexit
- Germany will overtake the Japanese economy in 2033
- Climate change will lower consumer spending by $2 trillion a year on average through 2036 as companies pass on the cost of decarbonizing investment
Short Link:
https://www.miningnews.ir/En/News/617327
Mining News Pro -
Mining News Pro -High natural gas prices and global competition for the fuel have driven more demand for thermal coal ...
Mining News Pro - A recent report by the Peruvian Institute of Economy states that the country’s mining sector has seen ...
Mining News Pro - Deputy of Iran’s Ministry of Economy and head of Iran’s Custom Administration were both present in an ...
Mining News Pro - President Joe Biden has taken lots of heat for stoking inflation with government spending. It’s not ...
Mining News Pro - Copper prices fell on Wednesday, as bets of big US rate hikes following hawkish comments from Federal ...
Mining News Pro - Canada’s Centerra Gold says the Kumtor mine the Kyrgyz government had expropriated in May has ...
Mining News Pro - The global economy is entering the final quarter of 2021 with a mounting number of headwinds ...
Mining News Pro - China’s current energy crisis can be traced back in part to a legal amendment targeting miners that ...
No comments have been posted yet ...