According to a report jointly developed by researchers from China, the United States, Russia, and Canada, there is a high probability that China will become the world’s largest economy by 2035.
Among the main reasons why China’s GDP will surpass that of the United States, experts note the higher economic growth rates in China, as well as the steady recognition of the yuan, its growing internationalization, and the long-term competition between the yuan and the US dollar.
“China will surpass the United States as the world’s largest economy around 2035 with a high probability, provided that in the next few years it maintains GDP growth rates at around 5% per year and at least 4% by 2035,” the report says.
In addition, according to the authors of the report titled “Interest Capitalization: High-Quality Development of China and the Forecast for 2035,” developing countries will become the main driver of global economic growth in the future, and their high growth rates could double the global GDP in the next decade.