2050: China #1 economy, India #2, US #3

economictimes.indiatimes.com ^ | 3-14-06 | PRABHAKAR SINHA

[soccer_maniac]

ndia will emerge as the second largest economy along with US by 2050, with China taking the number one slot. In a report ‘‘The World in 2050’’, global consultancy firm PricewaterhouseCoopers (PWC) projected that in terms of purchasing power parity (PPP), India will witness the highest growth of 5.2% in 2005-50 against 3.9% of China and Brazil and 2.4% of Russia. US will grow at 2.4% during this period, while UK, France, Germany and Japan will grow at 2.4%, 2.2%, 1.8% and 1.6% respectively. This report is more or less in same line with BRIC report of Goldman Sachs.

[Patrick1]

As Mark Steyn so well put it, "China will grow old before it grows rich".

[conservative physics]

I've heard this before but it was Japan last time.

[Patrick1]

And Germany before that.

[Big Guy and Rusty 99]

and Germany before that. Hey, they also said communism would work and Gore would win in 2000 and kerry in 2004.

I don't put a lot of stock in this . . .

[oldleft]

in terms of purchasing power parity (PPP)

This is a stupid way to compare economies. A dollar is a dollar is a dollar, it doesn't adjust if an egg costs 1 cent or $100.

[SIDENET]

...and we'll have flying cars.

[cinives]

Europe hasn't managed much growth - not even 1.5% - for a while now. What will change to get them above where they are now - ditching their socialist states ? No chance of that happening.

[Cowboy Bob]

I can remember when Japan (aka "Japan, Inc.") was going to take over the world. What happened?

[RayChuang88]

In my opinion, the number one economy in the world will still be the USA in 2050 for one very good reason: we have the best goods transportation infrastructure of any country on Earth, period, thanks to our extensive railroad network and the Interstate Highway System.

China and India may grow economically, but having to support 1.3 billion Chinese and 1.1 billion Indians (and growing!) may bog down their economic growth in the longer run.

[KevinDavis]

Same crap I have heard in 80's..

[indthkr]

"I've heard this before but it was Japan last time."

Good point.

On the other hand, Japan only has about half our population and a neutered military. China has about 4x our population, a nuclear armed military, and generates 3x-more the number of "value creators" (scientists and engineers) for its economy than we do.....I guess we can always sue them.

[Looper]

Interesting thoughts. What about Australia?

[philsfan24]

france growing at 2.2% automatically proves this report meaningless. their population is growing older and birth rates are dropping below the replacement levels. unless this changes, france and any other similar country is doomed.

[jjw]

The US growth rate will be almost identical to the UK and France for this entire period of time. Right.

[Humvee]

Wrong.

[softwarecreator]

2050?

Armaggedon will have come and gone by then ... especially if the dems get their idiot in the White House in 2008.

[vbmoneyspender]

China is an empire. In 20 years, it is not going to exist in the same way that it does today. It'll breakup just like the Soviet empire did.

[lewislynn]

China #1 economy, India #2, US #3

Yea but they'll just be lowly manufacturers of products to sell to the rest of the world, we're all going to be rich CEO's.

[Utahrd]

Yeah, but Maniac; the USMNT will have won a couple of World Cups by then; thanks to the leadership of Sunil Gulati.