TV News LIES

Saturday, Oct 12th

Last update06:22:07 AM GMT

You are here News Economy China's economy to overtake US in next four years, says OECD

China's economy to overtake US in next four years, says OECD

E-mail Print PDF

Chinese economyChina will overtake the US in the next four years to become the largest economy in the world, says a leading international thinktank.

The Paris-based Organisation for Economic Co-operation and Development (OECD) said China's economy will be larger than the combined economies of the eurozone countries by the end of this year, and will overtake the US by the end of 2016.

Global GDP will grow by 3% a year over the next 50 years, it says, but there will be large variations between countries and regions. By 2025, it says the combined GDP of China and India will be bigger than that of France, Germany, Italy, Japan, UK, US and Canada put together. Asa Johansson, senior economist at the OECD, said: "It is quite a shift in the balance of economic power we are going to see in the future."

Inequalities will persist, even though people in the poorest countries will see their income more than quadruple by 2060, with those in China and India seeing a more than a seven-fold increase. By 2060, the OECD says living standards in the emerging countries will still only be 25%-60% of the level enjoyed by those in the US.

More...


Most Recent Related Stories...


Boeing will lay off 10% of employees as a strike shuts down airplane production

Boeing lays of ten percent of work force Boeing plans to lay off about 10% of its workers in the coming months, about 17,000...

Fed cuts interest rates in historic move. Are more large cuts ahead?

Fed reserve chief PowelllThe Federal Reserve lowered its key interest rate by a hefty half percentage point Wednesday, moving...

US adds over 250,000 jobs in September, defying fears of slowdown

250,000 jobs added in September American employers added 254,000 jobs last month in the penultimate jobs report before the US election,...

Stock plunge wipes out Trump Media’s extraordinary market gains

Stock for Truth Social plunge Donald Trump’s tiny social media empire has seen its extraordinary stock market rally wiped out by...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!