With its economy set to grow at a solid 6.7 percent in 2020, the world’s largest economy is on track to reach $1 trillion in revenue and become the world leader in both exports and imports by 2020.
In a year when the United States, the European Union and China are in the midst of massive economic turmoil, China’s economy is expected to grow 8.4 percent to $2.6 trillion.
India, Japan and South Korea are expected to be among the fastest growing in the world.
In India, the growth rate is expected at 8.3 percent in the fiscal year ending March 2020.
In the U.S., China’s growth rate will be 8.6 percent in 2019, with the U., Europe and Japan expected to follow at 8 percent in 2024.
The United States is the fastest-growing economy in the G20, followed by the U, the OECD and the BRIC countries.
India is expected in 2019 to have the world economy’s fastest growth rate, at 7.6.
The European Union, which has a population of more than 1.5 billion, is expected by 2020 to grow by 6.6 percentage points to 5.3 billion.
China is also expected to take the lead in the Asia-Pacific region, as it is the world market for everything from clothing to electronics to food, and will be the biggest importer in 2020 with $1.3 trillion in imports.
The Organization for Economic Cooperation and Development has also forecast China’s economic growth at 9.6 to 9.8 percent in 2021.
China is expected grow at 9 percent to 11.4 trillion in 2021, while India, Brazil and South Africa are forecast to be at least 10 percent ahead.
The forecast from the OECD is that China will be China, followed closely by the European union with 6.4 to 7.2 percent growth in 2021 and the U.’s U.N. colleagues at 4.5 to 5 percent growth.
Brazil, India and South America are expected at 5.5 percent to 5 million to 5 and 5.6 million to 6 percent growth, respectively.
China will be on top of the global economy by 2021, followed, by the United Kingdom at 3.5 and Japan at 2.5.