As a result, 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.
The chart below shows the resulting share of global GDP for several major regions in the year 2100. In the univariate model, China will be the largest economy in the world in 2100, producing some 27% of global output.
"Well before 2030, we will be the world's third largest economy and, thereafter, the world's second largest economy by 2050." In purchasing power parity (PPP), India's share of global GDP will be north of 20 per cent by 2050. "India's success story of combining economic growth and democracy has no parallel.
By 2050, more countries are likely to be defined as superpowers, joining the United States and creating a multipolar world order. Extrapolating current economic, geopolitical, and demographic trends would suggest that China is likely to become a new superpower, although its economy is currently faltering.
1st: China
By 2030 China is likely to have cemented its position as the world's largest economy. If the experts at Standard Chartered are on the money, it's set to extend its lead significantly over the USA with a bumper GDP (PPP) of $64.2 trillion (£52.1tn), putting America's economy firmly in the shade.
Australia can become a renewable superpower provided it doesn't have to waste too much energy moving stuff around. Most of the energy in the world is used to move products and people from one place to another. And that is one of the main reasons that has led to increases in emissions during the era of globalisation.
China, India, and the United States will emerge as the world's three largest economies in 2050, with a total real U.S. dollar GDP of 70 percent more than the GDP of all the other G20 countries combined. In China and India alone, GDP is predicted to increase by nearly $60 trillion, the current size of the world economy.
By 2050, China is forecasted to have a gross domestic product of over 58 trillion U.S. dollars.
Africa and the Arab World will shape our future, while Europe and Asia will recede in their influence. By the end of the century, the world will be multipolar, with India, Nigeria, China, and the US the dominant powers. This will truly be a new world and one we should be preparing for today.”
The United Nations says that sometime in 2023, India will officially overtake China as the most populous country in the world. It may actually have happened already: India hasn't had a census since 2011.
India will be the world's third-largest economy in 2060, by which time China is predicted to be back at No. 2 and the U.S. in first place again. As China and India rise, the combined share of the U.S. and European economies will fall from over 50% in 2019 to 38% in 2060.
India and China were two of the world's wealthiest countries until the eighteenth century. The geographical location was favourable for the Indian subcontinent; it was an important point in the trade networks. The Indian Ocean provided easy transportation.
1. United States: USD 29.3 trillion in 2026. FocusEconomics panelists see the U.S. retaining its title as the world's largest economy over the next few years, forecasting nominal GDP of USD 29.3 trillion in 2026.
A new book examining the forces shaping the future of global migration forecasts Michigan as the best place in the world to live in 2050.
Australia has strong competitive advantages in its skills, research base, political and legal institutions and high standards of living. Since 1992, the growth of the Australian economy has continued to outpace every other major developed economy.
For 2022, Australia is ranked 17 of 142 out of the countries considered for the annual GFP review. It holds a PwrIndx* score of 0.2377 (a score of 0.0000 is considered 'perfect'). This entry last updated on 05/02/2022.
Ranked 6 of 26 for comprehensive power, with an overall score of 30.8 out of 100. Lost 1.6 points (−5% change) in overall score in 2021.
The United Nations is considering the addition of 7 new countries in 2022. Here is a list of the nations most likely to be added as member states. The seven new countries are as follows: Rojava, Bermuda, West and East Libya, New Caledonia, Donetsk People's Republic/new Russia, Chuck, and Bougainville.
The World Bank on Tuesday said that India is expected to be the fastest growing economy of the seven largest emerging-market and developing economies (EMDEs) though its economic growth is projected to slow to 6.9% in FY23 and 6.6% in FY24 from 8.7% in 2021-22.