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China Outweighs G-7 as Leading Driver of Global Economic Growth
China will be the top contributor to global growth over the next five years, with its share bigger than all Group of Seven countries combined, according to Bloomberg calculations using International Monetary Fund forecasts. China will account for about 21% of the world’s new economic activity from this year through 2029. That compares with 20% for the G-7, and almost double the nearly 12% for the US. In total, 75% of global growth is expected to be concentrated in 20 countries, and over half in the top four: China, India, the US and Indonesia. India is expected to contribute about 14% over the next five years, up ... (full story)