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China to Overtake U.S. Economy by 2032 as Asian Might Builds

This report sees India leapfrogging the U.K. and France next year to become the world’s fifth-biggest economy.

China to Overtake U.S. Economy by 2032 as Asian Might Builds
Pedestrians and shoppers walk past stores on a street in Varanasi, Uttar Pradesh. (Photographer: Dhiraj Singh/Bloomberg)

(Bloomberg) -- The growing importance of Asia’s major economies will continue in 2018 and beyond, according to a league table that sees the region dominating in terms of size in just over a decade.

The report by the Centre for Economics and Business Research in London sees India leapfrogging the U.K. and France next year to become the world’s fifth-biggest economy in dollar terms. It will advance to third place by 2027, moving ahead of Germany.

China to Overtake U.S. Economy by 2032 as Asian Might Builds

In 2032, three of the four largest economies will be Asian -- China, India and Japan -- and, by that time, China will also have overtaken the U.S. to hold the No. 1 spot. India’s advance won’t stop there, according to the CEBR, which sees it taking the top place in the second half of the century.

Also by 2032, South Korea and Indonesia will have entered the top 10, supplanting the Group of Seven nations of Italy and Canada.

To contact the reporter on this story: Fergal O'Brien in London at fobrien@bloomberg.net.

To contact the editors responsible for this story: Simon Kennedy at skennedy4@bloomberg.net, Zoe Schneeweiss, Brian Swint

©2017 Bloomberg L.P.