Shanghai World Financial Centre.
The world economy is projected to grow at an average rate of just over 3 per cent per annum from 2011 to 2050, doubling in size by 2032 and nearly doubling again by 2050, states a PricewaterhouseCoopers report.
According to the report, ‘World in 2050 The BRICs and Beyond: Prospects, Challenges and Opportunities’, the global financial crisis has accelerated the shift of the economic centre of gravity and China is expected to surpass the US to become the largest economy in the
world by 2050.
Emerging economies tend to grow at 4% per annum or more, while advanced economies grow at around 2% or less – we will continue to live in a two-speed world economy for some decades to come as a catch up process continues, says the report.
A man films a gold-plated Infiniti G37 at a jewellery store in Nanjing, Jiangsu province.
China (Rank 1)
Projected GDP at PPP (2030): $30,634 bn
Projected GDP at PPP (2050): $53,856 bn
GDP at PPP (2011): $11,347 bn
(GDP at PPPs is a better indicator of average living standards or volumes of outputs or inputs, because it corrects for price differences across countries at different levels of development. In general, price levels are significantly lower in emerging economies so looking at GDP at PPPs narrows the income gap with the advanced economies
compared to using market exchange rates, states PwC).
Brooklyn Bridge and Manhattan Bridge
United States (Rank 2)
Projected GDP at PPP (2030): $23,376 bn
Projected GDP at PPP (2050): $37,998 bn
GDP at PPP (2011): $15,094 bn
Brooklyn Bridge and Manhattan Bridge is seen from the 90th storey of One World Trade Center in New York.
Delhi Tourism.
India (Rank 3)
Projected GDP at PPP (2030): $13,716 bn
Projected GDP at PPP (2050): $ 34,704 bn
GDP at PPP (2011): $4,531 bn
People cycle by the Kremlin as they take part in the
Russia (Rank 5)
Russia could overtake Germany to become the largest European economy before 2020 in PPP terms and by around 2035 at market exchange rates.
Projected GDP at PPP (2030): $5,308 bn
Projected GDP at PPP (2050): $8,013 bn
GDP at PPP (2011): $ 3,031 bn
A security walks
Brazil (Rank 6)
Projected GDP at PPP (2030): $4,685 bn
Projected GDP at PPP (2050): $8,825 bn
GDP at PPP (2011): $2,305 bn
A security walks next to the Planalto Palace designed by Brazilian architect Oscar Niemeyer in Brasilia.
Boats are sen floating
Germany (Rank 7)
Projected GDP at PPP (2030): $4,118 bn
Projected GDP at PPP (2050): $5,822 bn
GDP at PPP (2011): $3,221 bn
Boats are sen floating above the piers on a flooded street in front of the historic skyline of Dresden, along the banks of the river Elbe.
A general view of the city of Turin Italy' major business and cultural centre.
Mexico (Rank 8)
Projected GDP at PPP (2030): $3,662 bn
Projected GDP at PPP (2050): $7,409 bn
GDP at PPP (2011): $1,761 bn
