Tuesday, 15 March 2011

Economic power shifts east

For a non-economist, watching the shift in economic and trading power since the Lehman Brothers client exodus in 2008 has been scarily fascinating. The powerful economies - Germany, USA, Japan, UK have all suffered. For Japan the suffering has become more accute as they deal with rebuilding their country as well as their economy. The shift in economic power has been significant and rapid. Goldman Sachs has made a prediction of economy size over the coming 40 years. Their prediction is that by 2050 China will overtake the US as No1 economy followed by India hot on the USA's heals. Other flourishing economies are predicted to be Brazil and Russia. It makes interesting brain fodder for us non-economists, because if you overlay political power, population growth, agricultural production and consumption, water shortages and energy issues... what will the political and economic landscape look like come 2050?

2050 Rank
Country Name 2000 GDP 2010 GDP 2020 GDP 2030 GDP 2040 GDP 2050 GDP
1  CHN China 1078 2998 7070 14312 26439 44453
*  EU European Union * 9395 12965 16861 21075 28323 35288
2  USA United States 9825 13271 16415 20833 27229 35165
3  IND India 469 929 2104 4935 12367 27803
4  JPN Japan 4176 4601 5221 5810 6039 6673
5  BRA Brazil 762 668 1333 2189 3740 6074
6  RUS Russia 391 847 1741 2980 4467 5870
7  UK United Kingdom 1437 1876 2285 2649 3201 3782
8  GER Germany 1875 2212 2524 2697 3147 3603
9  FRA France 1311 1622 1930 2267 2668 3148
10  ITA Italy 1078 1337 1553 1671 1788 2061

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