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    China to Surpass US to Become Largest Economy in 2025: Report

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    According to the Centre for Economics and Business Research, China now overtakes the US to become the world's largest economy in 2025. The research organization made the forecast as part of its annual World Economic League Table.

    MOSCOW, December 26 (Sputnik) — China is set to eclipse the United States as the world's largest economy in 2025, the Centre for Economics and Business Research (CEBR) predicted in a report Friday.

    "China now overtakes the US to become the world's largest economy in 2025 rather than 2028 as we thought a year ago," the report said.

    The research organization made the forecast as part of its annual World Economic League Table.

    The GDP of the Unites States, currently $17.5 trillion, exceeds that of China by about $7 trillion. However, the organization projects that this will change, particularly after China made revisions to its GDP figures and "added an amount as large as the whole Malaysian economy."

    CEBR report also reveals that the economy of the United Kingdom has done better, to snatch the fifth position in the world, leaving France in sixth. The United Kingdom's GDP grew to $2.8 trillion in 2014.

    CEBR suggests that this position may not be retained by the United Kingdom for long as it expects India's economy, which currently stands at ninth in the table, will outstrip Britain's in 2018.

    Japan and Germany came third and fourth respectively in the CEBR's World Economic League Table 2015, with Brazil, Italy, and Russia occupying seventh, eighth and 10th places respectively. The report notes Russia's drop in two places to 10th position from its 2013 ranking has been caused by the depreciation of the ruble and the low price of oil.

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