Studies say that the world economy will surpass $100 trillion for the first time ever, according to the Centre for Economics and Business Research.
The world economy is all set to hit and surpass the $100 trillion mark in the year 2022 according to studies by the Centre of Economics and Business Research. This is two years early than the previously predicted time to hit the $100 trillion mark.
The London based institute said that, the world economy will be lifted and boosted by the recovery from the pandemic making the process of surpassing $100 trillion easier. Although, they also warned us about what could happen if inflation continues; which would lead to global economies to go back into recession.
In the words of the Deputy Chairman of the Centre of Economics and Business Research, Douglas McWilliams, “The important issue for the 2020s is how the world economies cope with inflation. We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024.”