In March 2006 we produced a report setting out projections for potential growth in GDP in 17 leading economies over the period to 2050. These projections were updated in March 2008 and we have now revisited them again in the aftermath of the global financial crisis, extended now to cover all G20 economies.
Our key conclusion is that the global financial crisis has further accelerated the shift in global economic power to the emerging economies.
Measured by GDP in purchasing power parity (PPP) terms, which adjusts for price level differences across countries, the largest E7 emerging economies seem likely to be bigger than the current G7 economies by 2020, and China seems likely to have overtaken the US by that date. India could also overtake
the US by 2050 on this PPP basis.
To read the full, original article click on this link: The accelerating shift of global economic power: challenges and opportunities
