China Could Leapfrog US As Top Economy By 2037, But Another Asian Powerhouse Could Reap 'Demographic Dividend'
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According to a report from the Centre for Economics and Business Research (CEBR), China may become the world's top economy by GDP as soon as 2037. The report also forecasts strong growth for India. However, being the largest economy does not always mean superior living standards. Mariana Mazzucato, an economics professor, argues that a large GDP could indicate military strength and global relevance, but global challenges need to be addressed for GDP rankings to hold significance. China's business confidence is waning, leading to increased government stimulus spending. India could benefit from a 'demographic dividend' due to a rising working-age population. Despite the economic slowdown, investing in China still presents advantages as its economy outpaced the US last year and leads in crucial technologies. However, anxiety among Chinese investors and a drop in foreign investment in China's stock market have raised questions about its economic growth promises.
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