Quoted By: >>1511
The Covid-19 pandemic will produce lasting shifts toglobal growth, pushing China even more to the forefront.
The proportion of worldwide growth coming from China is expected to increase from 26.8% in 2021 to 27.7% in 2025, according to Bloomberg calculations usingInternational Monetary Funddata.
That’s more than 15 and 17 percentage points, respectively, higher than the U.S share of expected global output. India, Germany and Indonesia round out the top five largest growth engines, next year.
The IMF estimates China will grow by 8.2% next year, down a full percentage point from the IMF’s April estimate but strong enough to account for more than one-quarter of global growth. The U.S. is expected to rally to a 3.1% increase which will account for 11.6% of global growth in 2021 in purchasing power parity terms.
After the rebound in 2021, global growth is expected to gradually slow to about 3.5% in the medium term, according to the report.
Except for China, where output is expected to exceed 2019 levels this year, output in both advanced economies and emerging market and developing economies is projected to remain below 2019 levels even next year.
https://m.economictimes.com/news/international/business/imf-data-shows-coronavirus-will-push-china-gdp-growth-well-beyond-us/articleshow/78686778.cms