Get ready, world! China is gearing up to take the lead as the global economic powerhouse for the next five years. According to the latest forecast by the International Monetary Fund (IMF), reported by Bloomberg, China's growth is projected to outshine that of all the Group of Seven (G7) countries combined! 😲📈
By 2029, China is expected to contribute about 21% of the world's new economic activity, edging out the entire G7, which stands at 20%. To put it in perspective, that's almost double the nearly 12% projected for the U.S. 🤯
But it's not just China making waves. In total, around 75% of global growth will come from 20 countries, with over half coming from the top four: China, India, the U.S., and Indonesia. 🌍🔥
Meanwhile, some G7 members like Canada and Italy are expected to contribute less than one percent over the next few years. Surprisingly, their growth is trailing behind countries like Bangladesh and Egypt, where booming populations are driving economic activity. 🌱🌎
This shift highlights the dynamic changes in the global economy, with emerging markets taking center stage. So, whether you're a budding entrepreneur, a student researching international trends, or just someone curious about the world, keep an eye on these rising stars! 🌠🌟
Reference(s):
China to outpace G7 as engine of global economic growth: Bloomberg
cgtn.com
