China’s forecast to overtake the U.S. as the world’s largest economy in just nine years. And by 2050, India will take the crown pushing the U.S. into 3rd place, according to a report by Citigroup, Inc. (NYSE:C). India’s rapid ascent to economic supremacy will be driven by a surging working age population, which will grow more than 40 percent between now and 2050.
“Developing Asia and Africa will be the fastest growing regions, in our view, driven by population and income per capita growth, followed in terms of growth by the Middle East, Latin America, Central and Eastern Europe, the CIS, and finally the advanced nations of today,” Willem Buiter, chief economist at Citigroup, tells USA Today.
Charting the future of the world’s largest economies
Here’s a graphic I’ve put together illustrating the economic changes we’ll see in the coming years:
Regardless of how the next 40 years play out, you’re going to want to buckle up. It’s going to be a bumpy ride. “Expect booms and busts,” Buiter says. “Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters. When it comes to that, don’t believe that ‘this time it’s different’.”
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wtf this is the dumbest things ive ever seen. In 2015, India would still be a significantly poor country if ure talking about gdp per capita and is estimated to be in the top 10, not in top 3. please removed all the biasedness before posting
Interested to have world economic details.
india can do it worst can become best