HSBC outlook: China will outrank US as world's biggest economy in 2050
China will become the world's biggest economy in 2050, outranking the current number one, the US, according to a forecast by HSBC which took into account various variables like education and fertility rates. The only European countries in…
Romania Insider · Journalist
· Updated · 1 min read
China will become the world's biggest economy in 2050, outranking the current number one, the US, according to a forecast by HSBC which took into account various variables like education and fertility rates. The only European countries in the top ten will be Germany – the 5th place, Uk – the 6th place and France – the 9th. Moreover, the rise in income per capital will dwarf that in the US in the coming years. The highest income per capital growth will be in China – up nine-fold. Venezuela will display a higher growth in income per capita than the US – up three times.
Global growth will be powered by emerging economies. “The small-population, ageing, rich economies in Europe are the big losers. Switzerland and the Netherlands slip down the grid significantly, and Sweden, Belgium, Austria, Norway and Denmark drop out of our Top 30 altogether,” said Karen Ward, chief author of the report. Read the full report here. editor@romania-insider.com (photo source: Photoxpress.com)
