LONDON - China is expected to overtake the United States in 2028 to become the world'slargest economy, according to a research report released Thursday.
The London-based Center for Economics and Business Research (CEBR) said in its annualreport 2013 that China's gross domestic product (GDP) in US dollars would overtake the UnitedStates in 2028.
"This is later than some analysts have suggested and reflects the continuing performance ofthe US as the West's strongest economy and the slowing down of the Chinese economy," thereport said.
Based on CEBR's forecasts, India will overtake Japan in 2028 to become the world's thirdlargest economy.
It said: "Japan is likely to follow a weak currency policy for the foreseeable future which meansthat its GDP in dollar terms gets overtaken by India earlier than we had previously expected."
Brazil overtook the UK in 2011 to become the world's 6th largest economy. But CEBR said thatthe country had since fallen back but would overtake both the UK and Germany to become theworld's fifth largest economy in 2023.
"In 2014, while the Football World Cup is held in Brazil, it still looks likely that Britain will have alarger economy than Brazil," it said.
The annual report issued by the CEBR, a leading economic consultancy in Britain, covers the30 largest economies in the world.