China to overtake US to be world's biggest economy by 2028

• Feb 21 CA
• Jan 21 CA
• Dec 20 CA
• Nov 20 CA
• Oct 20 CA
• Sep 20 CA
• Aug 20 CA
• Jul 20 CA
• Jun 20 CA
• May 20 CA

Daily Current Affairs Article 28th December 2020: China is going to overtake the US to become the world's biggest economy by 2028, five years earlier than previously forecast, due to the COVID-19 pandemic.

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.

Indian scenario:

India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030

India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020.