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Analysts at Standard Chartered Bank predict that next year the United States will cease to be the largest economy, and in 2030 it will drop to the 3rd place. The leaders will be China and India. The forecasts were made on the basis of calculations of the nominal size of GDP in US dollars. Analysts also take into account purchasing power parity. The dizzying growth of Asian economies will ensure the expansion of the middle class layer. In the West, it will narrow, and its growth rates in Asia will be the highest. Experts guarantee the rapid growth of Indonesia, Turkey, Egypt and Brazil and believe that they will get into the top 10 countries in terms of GDP. Japan and Germany will close the top ten in 2030, dropping to the 9th and 10th places. Experts from the IMF and the World Bank consider GDP to be an outdated tool for assessing the current economic situation. However, while it is used in most comparative analyses.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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