TV News LIES

Tuesday, Aug 09th

Last update02:57:11 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...


US Employers Add 528,000 Jobs, Defy Recession Fears

528K jobs added in July 2022Defying anxiety about a possible recession and raging inflation, America’s employers added a stunning 528,000 jobs...

Drug company AbbVie used Trump tax law to shield profits, Senate report finds

AbbVie used Trump tax laws to hide profits Pharmaceutical giant AbbVie generates almost all of its sales in the United States but has allegedly...

Fed hikes interest rates another 75 basis points as recession warnings flash

Federal ReserveThe Federal Reserve announced another steep interest rate hike Wednesday, ramping up its efforts to bring...

Netflix lays off 300 employees in second round of mass job cuts

Netflix lays off 300 Netflix has laid off 300 employees in a second round of layoffs after letting go 150...
 
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!