GDP projections from PwC: how China, India and Brazil will overtake the West by 2050

Discussion in 'Economy & Infrastructure' started by chex3009, Jan 8, 2011.

  1. chex3009

    chex3009 Regular Member

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    GDP projections from PwC: how China, India and Brazil will overtake the West by 2050

    GDP projections from consultancy PwC show how the US, UK and the west will fall far behind the new economic powers like China in GDP by 2050. See what the data says

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    What will the world look like in 2050? For a number of years, the economists at PwC have been charting the rise of the big emerging countries and seeking to calculate the moment when the G7 industrial nations will be surpassed by an E7 (E for Emerging) of China, India, Brazil, Russia, Mexico, Indonesia and Turkey.

    To do this, they used World Bank data for growth up until 2009, PwC's short-term projections for the years up until 2014 and their long-term growth assumptions for 2015 to 2050, which rely on assumptions about population growth, increases in human and physical capital, and the rate at which poorer countries can catch up with the more advanced technologies used in developed nations.

    Inevitably, the results of the study involve guess work, however well-informed. But the trends appear to be clear; the emerging nations have grown far more rapidly than their counterparts in the west and will continue to do so.

    At present, nine out of the ten biggest economies in the world when measured by market exchange rates are developed nations; by 2050, according to PwC, that number will be down to just four - the US at number two behind China, Japan at 5, Germany at 8 and the UK at 9. PwC also make comparisons using purchasing power parities - which take account of different price levels between countries.

    Using this yardstick, the eclipse of the west happens more quickly, although the broad trends are similar, with the US falling to third behind China and India by 2050 and the UK in 10th place, one place below Indonesia.

    http://www.guardian.co.uk/news/datablog/2011/jan/07/gdp-projections-china-us-uk-brazil
     
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  3. Yusuf

    Yusuf GUARDIAN Administrator

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    Figures are not in absolute but PPP terms.
     
  4. Nagraj

    Nagraj Regular Member

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    guys get over it.
    in 70's and 80's newspaper articles were full of how japan will take over USA by 2000.
    during 90's there were many articles published in western media that china will take over usa by 2020.
    and what has happened untill now???
    USA is still number 1.
    fact of the matter is USA has got one of the best education system in the world.
    (you don't belive me ??? close your eys and ask yourself which are college who are top 10 among the world in science in management. apart from apart from some who belong to your country rest are Americans ?? right . the result will be same irrespective of nationality)
    Smart people more often then not migrate to USA from all parts of the world.
    and on top of it USA encourages Enterpreneurship.
    and untill these 3 advantages are there i think it's a mere dream that india or china will replace usa.
     
    Last edited: Jan 9, 2011

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