A new report from the London-based Centre for Economics and Business Research sees China overtaking the US to become the world’s largest economy in fifteen years time.
CEBR’s World Economic League table puts China in second place behind the US in 2017, yet expects their positions to be reversed by 2032.
Japan, which is currently in third position, will fall to fourth place by 2027, the year in which CEBR expects it to be overtaken by India.
CEBR expects Asian economies to assume an increasingly dominant positions in the 21st century.
According to its forecasts three of the four largest economies in the world will be located in Asia by 2032 – China, India and Japan, while India is set to assume second position after mid-century.
Indonesia and South Korea will join the ranks of the world’s 10 largest economies by 2032, ousting Canada and Italy.