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ASIA: "Beyond Asia: Strategies to support the quest for growth" report

ASIA: "Beyond Asia: Strategies to support the quest for growth" report. 32-page report by Ernst & Young.

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back to index backASIAtalk April,  2017


Shift of global economic power to emerging economies set to continue in long run, with India, Indonesia and Vietnam among star performers

Latest PwC report projects that for GDP measured at purchasing power parities (PPPs):

- World economy could double in size by 2042

- China has already overtaken the US to be largest economy based on GDP in PPP terms, and could be the largest valued at market exchange rates before 2030

- India could overtake the US by 2050 to go into 2nd place and Indonesia could move into 4th place by 2050, overtaking advanced economies like Japan and Germany

- By 2050, six of the seven largest economies in the world could be emerging markets

- Vietnam could be the world's fastest growing large economy over the period to 2050, rising to 20th in the global GDP rankings by that date

- Turkey could overtake Italy by 2030 if it can overcome current political instability and make progress on economic reforms

- Nigeria has potential to rise up the global GDP rankings, but only if it can diversify its economy and improve governance standards and infrastructure

7th February, 2017 " The long-term global economic power shift away from the established advanced economies is set to continue over the period to 2050, as emerging market countries continue to boost their share of world GDP in the long run despite recent mixed performance in some of these economies.

This is one of the key findings from the latest report from PwC economists on the theme of the World in 2050: The long view: how will the global economic order change by 2050? This presents projections of potential GDP growth up to 2050 for 32 of the largest economies in the world, which together account for around 85% of global GDP. These projections are based on the latest update of a detailed long-term global growth model first developed by PwC in 2006.

To read entire article, please click here.

Source: PwC India - GAI






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