China's economy forecast to overtake US in 2028

A British think tank says China will overtake the United States to become the world's largest economy in 2028, five years earlier than previously estimated.

The Centre for Economics and Business Research released its economic forecast through 2035 for 193 countries and territories on Saturday.

The report estimates China will see its GDP grow by 2 percent this year, while other major economies are expected to contract.

It says China has successfully contained the coronavirus pandemic and its economy is recovering more quickly than those of the United States and European countries.

The think tank projects global GDP to fall by 4.4 percent in 2020. Japan's GDP is projected to contract 5.5 percent due to the severe economic impact of the pandemic.