In 1980, America’s share in the global economy was 21.58%, while China’s share was just 2.05%, and India’s share was 2.77%. At this time India was far ahead of China. But later China expanded its economy rapidly and by 1990 its share had increased to 3.63%, while India’s share was 3.47%. By 2000, China’s share had reached 6.55% and India’s 4%. By 2010, China’s share had reached 12.55% and India’s 5.39%. But in 2020, China left America behind, and China’s share reached 18.36%, while America’s share remained at 15.35%.

Future Outlook (IMF Prediction):

If we talk about the future, then according to IMF prediction, by 2029, China’s share in the global economy can increase to 19.64%. America’s share may slightly decrease to 14.26%, and India’s share may increase to 9.66%. These predictions show that the importance of China and India’s economy will increase further, while America’s share will decrease slightly.

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