Brazil’s economy has overtaken Britain’s, making it the world’s sixth-largest economy, the Center for Economics and Business Research (cebr) said December 26.

The cebr World Economic League Table (welt) forecasts that Britain’s economy will fall to eighth place by 2020 as it’s overtaken by Russia (reaching fourth place) and India (reaching fifth place). France’s economy is forecast to fall faster, going from fifth to ninth place.

The welt used 2010 gdp data from the International Monetary Fund and forecasts based on the cebr’s global prospect model.

Brazil’s gdp per capita is still much lower than Britain’s—us$12,916 compared to us$39,604. But, according to a simulation by Austin Rating, a Brazilian agency, Brazil’s gdp per capita could, optimistically, reach Britain’s by 2028.

A nation that once ruled a quarter of the Earth’s land area has been reduced to an ailing economy, so indebted that it must slash its military spending to stay solvent. Britain has gone from superpower to mediocre-power in just decades.

Why such a dramatic decline? Read our article “Want to Know What a Former Superpower Looks Like?” to find out.