China to Be Top World Growth Source in Next Five Years, IMF Says (2 min read)
China will become the biggest driver of global growth over the next five years, according to the International Monetary Fund (IMF). Based on their recent economic outlook, China's slice of global GDP expansion will be at 22.6%, India's will be 12.9%, and the US will add 11.3%. The IMF also expects growth contributions from Brazil, Russia, India, and China (BRIC) to outpace the G7 nations. However, the overall global growth anticipation is only about 3% over the next five years due to heightened recession risks and it is the weakest outlook in over 30 years.