China looked set for average economic growth of 5.7% a year from 2021-25 before slowing to 4.5% a year from 2026-30. While the United States was likely to have a strong post-pandemic rebound in 2021, its growth would slow to 1.9% a year between 2022 and 2024, and then to 1.6% after that. Japan would remain the world’s third-biggest economy, in dollar terms, until the early 2030s when it would be overtaken by India, pushing Germany down from fourth to fifth. The United Kingdom, currently the fifth-biggest economy by the CEBR’s measure, would slip to sixth place from 2024. It also said the pandemic’s impact on the global economy was likely to show up in higher inflation, not slower growth.

Source: bd News24 December 26, 2020 00:00 UTC