According to the International Monetary Fund (IMF), China will be the leading contributor to global growth in the next five years, with a share that is double that of the United States. Bloomberg calculations, using data from the IMF's World Economic Outlook, indicate that China's global GDP expansion is expected to represent 22.6% of total world growth through 2028. India follows with 12.9%, while the US will contribute 11.3%. Despite the world economy expanding about 3% over the next five years, higher interest rates will bite. The IMF urges nations to avoid economic fragmentation due to geopolitical tension and take steps to boost productivity. The top four contributors to global growth are China, India, the US, and Indonesia, with the G7 countries comprising a smaller share. The BRIC nations (Brazil, Russia, India, and China) are expected to add almost 40% of the world's growth through 2028.
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