A Dramatically Different World
Goldman Sachs‘s research on The Path to 2050 shows a positive path for countries like Brazil, Russia, India and China. They call this the BRIC and these are the countries which are going to dramatically change the list of the world’s ten largest economies.
Here are some highlights :
Over the next 50 years, Brazil, Russia, India and Chinathe BRICs economiescould become a much larger force in the world economy. We map out GDP growth, income per capita and currency movements in the BRICs economies until 2050.
The results are startling. If things go right, in less than 40 years, the BRICs economies together could be larger than the G6 in US dollar terms. By 2025 they could account for over half the size of the G6. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050.
The list of the worlds ten largest economies may look quite different in 2050. The largest economies in the world (by GDP)mayno longer be the richest (by income per capita), making strategic choices for firms more complex.
This research paper was done in April 2003 and with the information overload, you must have encountered this fact a couple of months back. If no , click to read the entire research paper as PDF.