Asia Will Be 53% of World Economy

China Economy Will Lead the World by 2026

First Published Date: July 2, 2015

A recent report published by the Economist Intelligence Units predicts that in just 10 years China will overtake the US in terms of nominal GDP and will stay there at least until 2050. Also, Asia will account for 53 percent of world economy; it is currently at only 33 percent.

Here are some highlights from the report:

– Mexico and Indonesia will be among the top ten economies by 2050, surpassing Russia and Italy.

– The top ten economies in 2050 will be China, US, India, Indonesia, Japan, Germany, Brazil, Mexico, UK, and France.

– Within the top ten, China, US, and India will hold more wealth than the next five countries combined. This enormous scale of wealth will be nothing like the world has seen before.

– Currently the top ten economies are US, China, Japan, Germany, UK, France, Brazil, Italy, India, and Russia.

– China is almost expected to catch Japan in terms of per capita incomes by 2050.

– Nigeria is projected to triple its labour force, followed by Pakistan, in the next decades.

– Japan, Germany, and Thailand will decline in labour force, dragging down their growth.

The full report can be reviewed here.