Public Management

China and India could be the world's leading economies in 2050 (PwC)

China and India could be the world's leading economies in 2050 (PwC)
Wednesday, 28 November 2018 15:06

In a recent report published by the audit firm PwC, it appears that in 2050, China and India will respectively be the first and second world's leading economies in terms of GDP per capita, ahead of the United States of America relegated to the third place.

Another major information is that Germany (9th) and the UK (10th) will be the only European countries in the top 10 of that ranking. France will be out of that top 10 in which there will be more emerging countries like Indonesia (4th), Brazil (5th), Russia (6th) and Mexico (7th).

China and India made rapid progress in this ranking. Their economies supported by a strong population as well as a productive, competitive and disciplined system helped them greatly reduce their imports and accumulate savings to fund their long-term development.

PwC’s ranking also suggests that BRICS (Brazil, Russia, India, China, and South Africa) will be economically more powerful than the European Union. Even though it has the demographic potential and the underground resources, Africa seems not to be fit yet to contest in that battle.

Yet, it should take a real advantage from the change in the world economy thanks to its new relationships with the East (India, Japan, and China) and its presence in the BRICS. It is hard to guess how the West will react with this evolution on the basis of economic rules that its own leaders developed and implemented.

China has now become a real problem for the USA. In his bid to "make America great again", Donald Trump imposed customs tariffs on many products from the country and took measures which helped create a record number of jobs (3.4 million).  

Yet, this performance and "found greatness" seems to profit China with which the trade deficit rose further at end October 2018.

Now with the mean, American consumers are still thinking in terms of margins and, the improvement of its purchasing power is profiting China which was able to contain its cost factors to a high level of competition.

The European Union seems to have understood the situation and signed a free-trade agreement with Japan. In Africa on the other hand, states are still debating on the creation of a single market and at the same time delaying negotiations with the European Union. In addition, each of those African countries continues to receive many forms of support from China, Japan, India and increasingly from South Korea.

Idriss Linge

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
EBRD, EU, GCF, and Canada plan €65 mln ($77 mln) green loan for Crédit du Maroc. Funds to support clean energy, water treatment, and sustainable...
World Bank projects Ivory Coast could achieve 7-8% average annual growth with fiscal mobilization above 15% of GDP. Ivory Coast's tax revenue...
• NSIF denies rumors of interest in buying Chococam, saying it is focused on other projects.• Cadyst Invest, linked to Célestin Tawamba, is rumored to...
• AXA sells 80% of AXA Crédit Morocco to Stellantis’ Fidis arm• Stellantis to offer bundled car sales, financing, and insurance• Move aligns with...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
03

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
04

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
05

Even though it remains the smallest "crypto-economy" in the world, sub-Saharan Africa shows that vir...

Sub-Saharan Africa Crypto Transactions Up 52% to $205B on Inflation, Inclusion Push
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.