IMF: China is World's Largest Economic Growth Driver in Five Years, will Twice that of the US, Growth Forecast for Various Countries

Published: Apr 21, 2023 16:42
Source: SMM
According to the International Monetary Fund (IMF), China will become the biggest driving force for global growth in the next five years, and its growth contribution rate will be twice that of the United States.

According to the International Monetary Fund (IMF), China will become the biggest driving force for global growth in the next five years, and its growth contribution rate will be twice that of the United States.

Foreign media calculated based on the IMF World Economic Outlook report that 75% of the world's economic growth in the next five years will come from 20 countries, and more than 50% of the global economic growth will be contributed by four countries: China, India, the United States and Indonesia.

Among them, China's share in global GDP growth in the next five years will reach 22.6%, far exceeding other countries; India's will rank second, reaching 12.9%; the United States will rank third, reaching 11.3% ; Indonesia's contribution rate is about 3.6%, ranking fourth.

The IMF also expects the four BRICS countries (Brazil, Russia, India and China) to brace for strong economic growth over the next five years, contributing more to global economic growth than the Group of Seven (G7). The four BRICS countries are expected to contribute nearly 40 percent of global economic growth by 2028.

Increasing Countries Join "De-Dollarisation" amid Currency Settlement Diversification, Here are Their Various Policies, RMB Internationalisation is Accelerating

World’s Top Banks Up China's GDP Growth Forecast This Year as First Quarter Report Far Exceed Expectations

Wall Street Bullish on China Economy, JPMorgan, BofA, Citigroup Raised Forecast citing Strong Chinese Recovery

Bank of America Raises China's Economic Growth Forecast

IMF Lowered Global Economic Growth Forecast for 2023-2024, Warns of Further Impact from Banking Crisis


















Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Rio Tinto Halts Kennecott Copper Mine Operations After Worker Fatality, Awaits Investigation
11 hours ago
Rio Tinto Halts Kennecott Copper Mine Operations After Worker Fatality, Awaits Investigation
Read More
Rio Tinto Halts Kennecott Copper Mine Operations After Worker Fatality, Awaits Investigation
Rio Tinto Halts Kennecott Copper Mine Operations After Worker Fatality, Awaits Investigation
Following a worker fatality on March 12, Rio Tinto suspended operations at its Kennecott copper mine in Utah, US. In a statement posted on its official website, Rio Tinto said that all surface and underground mining operations at Kennecott (also known as Bingham Canyon Mine) had been suspended. Chief Executive Officer Simon Trott said the company was working closely with the relevant authorities and contractor partners to support a full and thorough investigation.
11 hours ago
First Quantum to Sell Turkey's Çayeli Mine to Cengiz for $340M, Awaits Regulatory Approval
11 hours ago
First Quantum to Sell Turkey's Çayeli Mine to Cengiz for $340M, Awaits Regulatory Approval
Read More
First Quantum to Sell Turkey's Çayeli Mine to Cengiz for $340M, Awaits Regulatory Approval
First Quantum to Sell Turkey's Çayeli Mine to Cengiz for $340M, Awaits Regulatory Approval
Canada-based First Quantum Minerals will sell its Çayeli mine in Turkey to Cengiz Holding for $340 million in cash as part of its portfolio optimization strategy.Cengiz Holding will acquire the underground copper-zinc mine through its subsidiary CengizInsaat.First Quantum Chief Executive Officer Tristan Pascall said, "The sale reflects the company's disciplined approach to portfolio management while focusing on its core strategic priorities."The transaction remains subject to regulatory approvals and is expected to be completed in Q2 or Q3 of this year.
11 hours ago
Khark Island Attack Foiled: Defense Restored, Oil Operations Unaffected, No Casualties Reported
11 hours ago
Khark Island Attack Foiled: Defense Restored, Oil Operations Unaffected, No Casualties Reported
Read More
Khark Island Attack Foiled: Defense Restored, Oil Operations Unaffected, No Casualties Reported
Khark Island Attack Foiled: Defense Restored, Oil Operations Unaffected, No Casualties Reported
The situation on Khark Island has been brought under control, and the defense system was restarted shortly after coming under attack. According to reports, following the attack on Khark Island, preliminary observation and assessment found that the island’s critical oil infrastructure sustained no damage, and related operations are continuing. All employees in the oil sector on Khark Island were unharmed. Citing informed sources, the report said that the attackers failed to achieve their intended strategic objectives.
11 hours ago