Now it is no secret that big transformation is underway, not just on the micro front such as the new fashion trends for men and the new hairstyles for men in India that are evolving but also on the macro front wherein major industrialized countries are likely to get richer or poorer by the year 2050. According to available recently published reports, we present you the list of top 5 countries that are likely to have the largest economies in the world, based on the likely GDP at Purchasing Power Parity (PPP).
1. Chinese dragon is likely to dominate the world by the year 2050, way ahead of United States at least in terms of the size and scale of economy. planet. The projected annual rate of growth for GDP is likely to be around 4.4% and Chinese economy will have significant clout over International Trade and Commerce, not just in Asia.
2. India is likely to become the second largest economy in the world if the current growth rate continues to tread on the current levels. India is projected to have the highest GDP growth rate (in dollar terms) amongst the top 32 countries in the world.
3. United States is likely to experience the biggest fall, due to relatively slow population and annual GDP growth. It is also estimated that US’s domineering influence over major economies will reduce as Chinese products and companies are likely to control various important marketplaces.
4. Indonesia is expected to emerge as the world’s fourth-largest economy, up from the eighth most powerful in 2016. The powerful economy of south-east Asia will have bigger say in trade and commerce, as reflected in exceptional GDP growth rate.
5. Brazil will also emerge as the fifth largest economy in the world owing to the steady growth, over the period. It is likely to dominate the trade and commerce markets along with Mexico in the other half of the world. Brazil’s economy is projected to rise two places from the current rankings of being the seventh largest in the World.