France 5th largest economy while UK slips
There was comfort for France on Monday when a respected economics body said it had held onto its position as the fifth largest economy, while long-standing cross-channel rival Britain slipped to seventh.
The London-based Centre for Economics and Business Research (CEBR) moved Brazil up to sixth place in its annual ranking of the world’s largest economies, pushing the UK down by one spot.
However, French schadenfreude may be short-lived. The report said that the UK would overtake France by 2016, with France falling to ninth place.
The chief executive of the CEBR, Douglas McWilliams, told the BBC that the rise of Brazil and other emerging economies in the ranking was part of a growing trend.
“I think it’s part of the big economic change, where not only are we seeing a shift from the west to the east, but we’re also seeing that countriesthat produce vital commodities – food and energy and things like that – are doing very well and they’re gradually climbing up the economic league table,” he said.
The world’s largest economy remains the US, followed by China, Japan and Germany.