Emerging Economies Around The Globe

By on February 18, 2015
Emerging Economies

Emerging Economies

PricewaterhouseCoopers (PWC), the world’s second largest professional services network released their new findings on the shift in global economic power and the rise of emerging economies.

The big news is that according to PWC, China will be the number one economy hands down by 2030. The U.S. will also be challenged for the number two spot in 2050 by India.

While China is currently experiencing economic growth at an absurd rate, forecasters believe that this growth rate will slow due to China’s one-child policy and its aging population. This forecast has China leveling off at a $61 trillion gross domestic product (GDP) around 2020 according to purchasing power parity (PPP) terms.

I don’t know about you all but that is more than enough for me to live off of!

Whereas China is supposed to falter a little bit, India is expected to surge from $7 trillion in 2014 to $17 trillion in 2030 and $42 trillion by 2050, challenging the United States’s $41 trillion economy.

Philippines, Vietnam and Malaysia also are expected to surge up the charts, making Asia as a continent a serious global player. Things are really looking up for Asia.

Indonesia, Mexico and Nigeria are forecasted to make a push to jump into the top 10, leapfrogging past the UK and France.

Brazil and Russia both current rising economic powers will not grow as fast as India or China, but will not decline tremendously such as Germany and Japan.

Click here to download and read the full report.