“Economists have a hard enough time predicting gross domestic product in the next quarter let alone the next half century, but Goldman Sachs has revved up its econometric models and taken a stab at it. What it has come up with is a radically different world economy as Brazil, Russia, India and China — the ”BRICs“ — power their way to the top.
The new Group of Six will be led by China with estimated gross domestic product of nearly US$45-trillion in 2050, followed by the United States at US$35-trillion and India at about US$30-trillion. Bringing up the rear with much smaller GDPs will be Japan at around US$6-trillion, followed by Brazil and Russia.
In total, the BRIC economies are now worth less than 15% of the current G6, in U.S. dollar terms. The economists predict that by 2025 the BRIC economies will be more than half as large as the current G6 and in less than 40 years they will surpass the G6. (With GDP of less than US$1-trillion, Canada is not part of the G6).”
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Frankly, I love reading such articles talking about a vibrant India in the future.
I firmly believe, the world would be a much safer place to live in if the current income disparities are slowly done away with.
Too many of the world's current problems start with an empty stomach, isn't it ?
after a failed military attempt to take over Tiawan by force. The paper also assumes an unlimited amount of resources, foreign investment, valuation of the Yuan/RMB (with or without China), and one-way trade with the US, the EU and the rest of the world.