Global economic power will shift significantly between now and 2050, according to a report by Goldman Sachs.
The Path to 2075 – Capital Market Size and Opportunity states that growth in emerging markets (EMs) will exceed that in developed markets (DMs) for the remainder of this decade (3.8 per cent vs 1.8 per cent), and forecasts that China, the US, India, Indonesia, and Germany will become the world’s largest economies by 2050.
The report says that, by 2075, China, the US, and India are likely to still be the world’s three largest economies and ‘with the right policies and institutions, seven of the world’s top 10 economies are projected to be EMs’.
The key 2050 forecasts in the Goldman Sachs report have been highlighted in an online graphic by Visual Capitalist.
