Thursday, December 29, 2011

Brazil Overtakes the UK as World's Sixth Largest Economy

According to AFP, Brazil has overtaken Britain as the world's sixth largest economy, based upon data released by London's Center for Economics and Business Research (CEBR) on Monday (December 26). The CEBR also said that Asian countries are rising in the group's World Economic League Table, while European nations are declining.

COMMENT: The CEBR also predicted that the British economy would overtake France, ranked fifth this year, by 2016 and it said India, the world's 10th biggest economy in 2011, would move up to fifth place by 2020. Currently, the US economy is the largest, followed by China, Japan and Germany.

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