During the last few years, the world’s economic growth has been affected. In recent years, the global economy has faced problems such as the Corona epidemic, supply chain problems, chip shortages and the Russia-Ukraine war. Right now the danger of Global Economic Recession is on the head. In such a situation, the equation of economy and economic growth has also changed.
America backward than India
There was a time when America alone used to decide the condition and direction of economic growth of the whole world. Now the situation has completely changed. Now the situation is that in terms of contribution to global growth, India has also overtaken America. Right now India’s contribution in furthering the economic progress of the world is less than just one country.
Highest contribution from China
According to the recent tweet by The World Ranking, this trend is going to continue in the coming years as well. according to him, year 2023 From 2028 to 2028, China will contribute the maximum 22.6 percent to the world’s economic growth. At the same time, during the next five years, it will contribute the second most to the global economy. India’s share in global growth is estimated to be 12.9 percent in these five years.
America’s contribution will come down to 11.3 percent. In this way, America’s number will come after China and India in terms of contributing to global economic growth. On the other hand, Indonesia will be in fourth place by contributing 3.6 percent.
The contribution of only 4 countries is so much
Another interesting thing emerges from these figures. Only the top four countries will contribute more than 50 per cent to global growth over the next five years. China, India, America and Indonesia together will contribute 50.4 percent to the global economic growth. In this too, the contribution of only 3 countries is going to be in double digit i.e. more than 10 percent.
Shrinking developed economies
The coming years are going to be difficult for many developed economies of the world. These countries have been struggling on the front of economic growth for the last several years. Because of this, Germany’s contribution to Europe’s largest economy will be reduced to 2.1 per cent, equal to that of Turkey. At the same time, the contribution of Japan will be reduced to 1.8 percent. The contribution of Britain and France, two other major European economies, is estimated to be limited to 1.5 per cent each.
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