China to Be Top World Growth Source in Next Five Years, Doubling The US Contribution, IMF Says

[beijingwalker]

China to Be Top World Growth Source in Next Five Years, IMF Says​

Alex Tanzi, Bloomberg News
April. 17 2023

Source: Bloomberg using IMF WEO April 2023 forecasts

(Bloomberg) -- China will be the top contributor to global growth over the next five years, with its share set to be double that of the US, according to the International Monetary Fund.

The nation’s slice of global gross domestic product expansion is expected to represent 22.6% of total world growth through 2028, according to Bloomberg calculations using data the fund released in its World Economic Outlook released last week. India follows at 12.9%, while the US will contribute 11.3%.

The emergency lender sees the world economy expanding about 3% over the next half decade as higher interest rates bite. The outlook over the next five years is the weakest in more than three decades, with the fund urging nations to avoid economic fragmentation caused by geopolitical tension and take steps to bolster productivity.

In total, 75% of global growth is expected to be concentrated in 20 countries and over half in the top four: China, India, the US and Indonesia. While Group of Seven countries will comprise a smaller share, Germany, Japan, the United Kingdom and France are seen among the top 10 contributors.

Brazil, Russia, India and China — known by the acronym BRIC coined by Jim O’Neill, a former Goldman Sachs Group Inc. chief economist — are expected to add almost 40% of the world’s growth through 2028.

The four nations established the BRIC forum in 2009 and the bloc became Brics a year later when South Africa — by far the smallest economy in the grouping — was admitted, a move O’Neill disagreed with.
South African expansion is set to be anemic in the next five years, adding roughly half a percentage point to the world total.

©2023 Bloomberg L.P.

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[beijingwalker]

China will become the global economy's biggest growth driver in the next 5 years, doubling the US contribution, IMF says​

Phil Rosen
Mon, April 17, 2023 at 5:25 PM PDT·2 min read

• The IMF said China will be the largest driver of global economic growth in the next five years.
• China will contribute 22.6% of total world growth, while the US will contribute 11.3%.
• Half of global growth will be concentrated in China, the US, India, and Indonesia.

China will become the biggest driver of global growth over the next five years and will contribute double what the US adds, according to the International Monetary Fund.

Based on Bloomberg calculations from data in the IMF's World Economic Outlook released last week, China's slice of global gross domestic product expansion will be at 22.6%, India's will be 12.9%, and the US will add 11.3%.

They are followed by Indonesia, Germany, Turkey, and Japan, each with a less than 3.6% contribution.

Three-quarters of global growth will stem from 20 countries, and over 50% will come from just China, India, the US, and Indonesia.

The IMF expects growth contributions from Brazil, Russia, India, and China to outpace Group of Seven nations.

Overall, the IMF anticipates global growth to expand about 3% over the next five years in a higher-interest-rate environment. It's the weakest outlook in over 30 years.

The group's report highlighted that recent bank turmoil and sticky inflation have heightened recession risks. March brought the collapse of Silicon Valley Bank and Signature, in addition to trouble with Silvergate, Credit Suisse, and other names.

"Risks to the outlook are squarely to the downside," the IMF said. "Much uncertainty clouds the short- and medium-term outlook as the global economy adjusts to the shocks of 2020–22 and the recent financial sector turmoil. Recession concerns have gained prominence, while worries about stubbornly high inflation persist."

China will become the global economy's biggest growth driver in the next 5 years, doubling the US contribution, IMF says

Brazil, Russia, India, and China together are expected to contribute nearly 40% of the world's growth through 2028, the group said.

finance.yahoo.com

 

[beijingwalker]

China to dominate world economic growth - IMF​

14 May, 2023

The IMF predicts China to dominate world economic growth in the next five years. China is expected to be the top contributor to global economic growth over the next five years, with its share expected to be twice that of the US.

The main development has been the reopening of China, where surging consumption is boosting growth across the region despite weaker demand from the rest of the world.

The IMF predicts that the world economy will grow by nearly 3% over the next five years, with 75% of that growth concentrated in 20 countries and over half in the top four: China, India, the US, and Indonesia.

China to dominate world economic growth - IMF

The IMF predicts China to dominate world economic growth in the next five years.

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