By 2035, the Chinese economy is expected to surpass the United States and become the largest economy in the world. writes about this TASS He cited a report by the Chongyang Financial Research Institute of the People’s University of China.
This scenario is possible if China maintains annual GDP growth around 5% over the next few years, or at least above 4% by 2035, according to the report.
In the research jointly prepared by scientists from India, Canada, China, Russia and the USA, it is stated that China’s economic growth rate has surpassed that of the USA. At the same time, the yuan continues to strengthen in the international arena and the degree of internationalization is increasing.
“Developing countries will be the main engine of global economic growth in the future, and their rapid growth could double global GDP in the next decade,” says the report, China’s Compounding Interest: China’s High-Quality Development and Outlook to 2035.
By the end of 2023, China’s GDP increased by 5.2%, reaching a volume of over 126 trillion Yen ($17.7 trillion), while the GDP of the USA increased by 2.5%, reaching $26.39 trillion .
Before that it was known in China. It turned out to be fell into a debt trap following the collapse of the housing market.
Previously Russia passed Based on GDP growth rate of most G7 countries.