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OECD: China’s economy to be the biggest in the world by end of 2016
09.11.2012 15:12 "Agro Perspectiva" (Kyiv) —
The Paris-based Organisation for Economic Cooperation and Development (OECD) has said China is within four years of overtaking the US and becoming the largest economy in the world, says Voice of Russia referring to the Guardian.
The international think tank says that global GDP will grow by 3% a year over the next 50 years, but it will be unevenly spread across the countries and regions.
By 2025 the combined GDP of China and India will be bigger than that of France, Germany, Italy, Japan, UK, US and Canada combined.
Experts from the OECD warn that global imbalances, which created the conditions for the crash of 2007, will continue to widen and reach pre-crisis levels by 2030.
They also say that if countries undertook more ambitious reforms with regards to labor and production, rising imbalances could be reduced.
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