China will be the largest contributor to the world’s economic growth over the next five years, with its share set to be twice that of the United States, according to the International Monetary Fund.
According to a Bloomberg report based on data from the International Monetary Fund released last week, China’s contribution to global GDP growth will be 22.6%, 12.9% for India, and 11.3% for the United States.
These countries are followed by Indonesia, Germany, Turkey and Japan, with each participating in less than 3.6% of the expected growth volume, and growth contributions from Brazil, Russia, India and China will be better than the G7 group.
Three-quarters (75%) of global growth will come from 20 countries, and more than 50% will come from China, India, the United States and Indonesia alone.
The Fund believes that the global economy will grow by about 3% over the next half decade with higher interest rates, and these expectations for the next five years are the weakest in more than three decades, and the Fund urges countries to avoid the economic division caused by geopolitical tensions and take steps to enhance productivity.
This article was originally published by RT.