SUMMARY
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The US will continue to lead the world’s top economies for another decade, but China will narrow the gap as it produces 83% of U.S. annual output, according to London-based Centre for Economics and Business Research. The top economies will keep their ranking up to 2022 after their 2012 estimated gross domestic product (GDP) of $15.6 trillion (US), $8.2 trillion (China), $5.9 trillion (Japan) and $3.4 ( Germany) trillion. Asia’s rise and Europe’s downward slide is prominent in Cebr’s survey of 30 economies. India will overtake the British economy in 2017 and surpass Germany as the 4th largest economy. Fast-growing Indonesia is predicted to move from the 16th to 10th, with South Korea rising from 15th to become the 12th largest, and Thailand moving up from 30th to the 24th. Resource-rich Australia, currently the 12th, is predicted to fall behind South Korea and Italy, which is seen sliding from the 8th to the 13th. France is seen dropping from 5th to 9th, while Brazil is expected to hold the 5th spot, and Russia the 7th place.
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