China and India will "overtake" the US to become the two largest economies in the world.
According to one forecast, both China and India will surpass the US to become the world's two largest economies by 2030, with the US falling to third place.
China is not the only Asian country challenging the US's position as the world's largest economy.
According to a newly released report by UK-based Standard Chartered Bank, by 2030, the US will fall to third place behind China and India in the ranking of the world's leading economies, while Indonesia will rise to fourth place.
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| Flags of India and China. Photo: Financial Express. |
The study is based on GDP size assessment, downgrading criteria for purchasing power and quality of life in emerging economies like China.
China's growing economic power is also expected to impact the earnings of US companies like Apple and, more broadly, the stock market and the US economy in general.
China's growing geopolitical and economic influence poses a major challenge to America's global dominance, experts say.
By 2030, seven of the world's top 10 economies will be emerging economies: China, India, Indonesia, Türkiye, Brazil, Egypt and Russia.
