A visualisation of the $86 trillion worldwide economy
The world economy is in a constant state of change. Today’s emerging markets are tomorrow’s power houses. According to a recent forecast from Standard Chartered, countries with emerging economies such as Indonesia, Brazil, Turkey and Egypt will be moving up the economic ladder over the next few years. Currently, China is the world’s largest economy, with the US, India, Japan and Germany rounding up the top five. This picture is, however, expected to shift by 2030. While China’s GDP will continue to grow and remain in the top position, India will shift up into the second position thanks to its rapid urbanisation and due to it containing many of the world’s fastest growing cities. Indonesia’s economy is expected to triple, surpassing the size of India’s economy as it is today. The country’s capital, Jakarta, is also projected to become the world’s biggest megacity by 2030. With three countries in the top five, Asia’s share of the global GDP will increase to 35%. At the same time, the divide between developed and developing economies will continue to close. By 2030 seven of the world’s largest economies will be located in today’s emerging markets. These changes and shifts mean that Western economies and businesses will need to adjust to new realities on the global economic stage.
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