Over the next three decades, the global economy will be dominated by China, and the US economy will lose steam and fall behind India, says consulting firm PricewaterhouseCoopers (PwC). Russia will become the leading European economy ahead of Germany, UK, and Italy with GDP of $7 trillion, according to a PwC report.
The report, called “The long view: how will the global economic order change by 2050?,” ranked 32 countries, based on their projected Gross Domestic Product by Purchasing Power Parity (PPP). PwC concluded that by 2050, China’s GDP would reach $58.5 trillion, India, over $44 trillion, while the US will have a $34.1 trillion economy. READ MORE