The bank explained in its report that the estimate of the gross domestic product of the global economy came in view of its total value at 2017 prices, but that it was adjusted to fit purchasing power with the cost of living. >
The report predicted that the Chinese economy will grow at a low rate during the year 2020 by about 1.2% due to the pandemic of coronavirus emerging coronary virus (Covid 19).
The United States of America came in second place with a GDP of $ 20.6 trillion in 2019, while the report expected that the American economy will decline by this year by about 6%. / p>
The report pointed out that Asian countries showed better prospects for growth among the 8 largest economies at the global level, despite the epidemic that swept the world.
The World Bank report said that European economies such as Germany and the United Kingdom are struggling to come out with the lowest losses in 2020, the same fate facing Japan, one of the largest industrial castles in the world.
According to previous IMF reports, China and the USA are expected to remain in the forefront of the global economy ranking until 2024, while Indonesia is expected to advance Germany in order.
By 2030, according to the report, India is expected to overtake the United States to put it out of second place.
At that time, it was also assumed that China would be the world's largest economy by nominal GDP, a record still maintained by the United States. < / p>
