The U.S. may maintain its position as the world's top economy.

The U.S. may maintain its position as the world's top economy.
The U.S. may maintain its position as the world's top economy.

This century, the global economy may be led by the U.S., China, and India, as predicted by an analysis from the Centre for Economics and Business Research.

According to the CEBR forecast, China could become the world's largest economy by 2037, while India is also expected to experience significant growth.

Nina Skero, CEO of the CEBR, stated that while China has the largest economy in the world in terms of GDP, it does not take into account factors like living standards. Economists believe that a growing GDP can indicate a nation's military power, economic influence, and international significance.

It is unwise to ignore the significance of addressing global issues such as health, climate, digital, and AI," said Mariana Mazzucato, a professor of economics at the University College London. "While policymakers worldwide are investing in preparing for potential future challenges, it is crucial to tackle these problems with a global perspective to improve our overall well-being.

According to Yasheng Huang, a professor of global economics and management at the MIT Sloan School of Management, the primary challenge confronting China today is the lack of long-term confidence in the Chinese economy among the population, private sector, and investors.

In the 21st century, while population growth has slowed down in China and the U.S., India may experience a "demographic dividend" where its growing working-age population can thrive in a well-capitalized business environment.

According to Rajiv Biswas, Asia-Pacific chief economist at S&P Global Market Intelligence, India's demographics are still youthful compared to other large Asian economies, providing the potential for rapid growth.

The race to become the world's largest economy is ongoing.

by Carlos Waters

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