Study supports a shift in global power

Study supports a shift in global power -

The shift of global economic power to emerging economies continue until 2050 and China will be the largest economy in 2030, despite slowing from 2020, concluded a study by the international consulting firm PwC

the report "the World in 2050: will you continue the shift of global economic power?". presented projections of potential GDP increase by 2050 for 32 of the largest economies in the world, accounting for 84% of global GDP.

2030 China will be the largest economy but it is expected that its growth rate will slow markedly after 2020 as its population ages, its high investment rate this diminishing marginal returns and have to rely on innovation to boost productivity.

also, it was estimated that the world economy will grow at an average 3% per year from 2014, doubling to 2037 and almost tripling by 2050.
Considering the GDP at exchange market, China will overtake United States in 2028, while India will be the world's third largest by 2050. [1945002economy]

India has the potential to sustain its high growth rates for longer, but depends on progress steadily investing in infrastructure, institutional reforms and raises the standard of education for the entire population.
Indonesia, Brazil and Mexico , meanwhile, have the potential to outperform UK and France in 2030, possibly reaching Indonesia ranked 4th in the world ranking by 2050.

Meanwhile, European economies will tend to fall in the rankings, with growth rates as only 1.5-2% per year by 2050 and is expected to reach Poland the highest rate of major economies European Union beating Russia .

in addition, Japan's growth will be the slowest of the countries included in the study, due in part to a declining population. As a result, it is expected to drop from 4th to 7th place in the overall ranking 2050.

Source: Telam

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