China to overtake US as world's largest economy by 2035
Experts claim that China's economy may become the largest in the world by 2035, displacing the United States from the first place, TASS reports
The report on the prospects of the Chinese economy, presented by the Chongyang Institute for Financial Studies at the Renmin University of China, says that if China maintains GDP growth at about 5 per cent per year over the next few years or at least maintains growth rates above 4 per cent until 2035, then it is expected that the PRC by 2035 will surpass the United States and become the world's largest economy.
Thus, experts from India, Canada, China, Russia, and the United States, who prepared the report, noted that China's economic growth rate is ‘outpacing the growth rate of the US economy’. According to the study, the yuan continues to strengthen, and the degree of its internationalisation is increasing.
