A collaborative study involving researchers from China, Russia, the United States and Canada projects that China has a great chance of becoming the world’s largest economy, overtaking the United States by the year 2035.
The report, the result of a partnership between academic and economic institutions in these countries, was released at the People’s University of China last Sunday.
Titled “Capitalizing on Interest: China’s High-Quality Development and Forecast to 2035”, the document details how the appreciation of the yuan, the internationalization of the Chinese currency and the dynamics of long-term competition with the US dollar are key factors in this development. .
According to the study, if China maintains a GDP growth rate of approximately 5% in the coming years and at least 4% by 2035, surpassing the US economy is a likely scenario.
The report also highlights the growing importance of developing countries as key engines of global economic growth, projecting that these nations’ high growth rates could double global GDP over the next decade.
With information from Sputnik
