PWC recently released a report looking at how the global economic order might change by the year 2050. The study includes the firm’s latest long-term global growth projections to 2050 for 32 of the largest economies in the world. You can find the link to their interactive website here and download a copy of the full report here. Marc Faber, editor of the “Gloom, Boom & Doom” report, had also referenced some of the report’s predictions in an April interview with the Economic Times.
Some highlights (taken directly from their website):
- Six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th).
- The US could be down to third place in the global GDP rankings while the EU27’s share of world GDP could fall below 10% by 2050.
- According to their projections, Vietnam, Nigeria and the Philippines could make the greatest moves up the global GDP rankings.
Below is a 60 second summary of the report presented by PWC chief economist John Hawksworth: