Summary of Long-Term Macroeconomic Forecasts

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Long-Term Macroeconomic Forecasts summary
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The dizzying pace of global economic change will continue in the coming decades. China will surpass the United States for GDP pole position in 2026, the Economist Intelligence Unit forecasts in this intriguing study. That’s no surprise, but it makes a few eye-opening predictions, too, particularly about shifts in demographics and in per capita spending power by 2050. Due to its brevity, the report delivers little analysis of the factors behind the prognostications. Yet getAbstract recommends it to investors, executives and policy makers charged with planning for the future.

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The Economist Intelligence Unit is an independent research and analysis organization.

 

Summary

The global balance of economic power continues its eastward shift. By 2050, Asia will produce 53% of the globe’s output. In 2050, the list of the world’s largest economies will look very different from today’s ranking, in which the United States and Western European nations prevail. China will leapfrog America to the top position in nominal GDP in US dollar terms by 2026. India will oust Japan from third place. Indonesia and Mexico will vault onto the top 10 list to claim fourth and eighth place, respectively, while Italy and Russia will drop out. Considering China’s and India’s growing economic heft, current world leaders...


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