Tuesday , May 18 2021

Which will be the world's largest economy in 2030 (and the Latin American country listed)

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One of the surprises of the study is that India will surpass the United States.

The Indian economy will surpass the US economy in 2030. This is one of the surprises that comes after the investigation has just been announced by Standard Chartered, a UK-based multinational bank.

If this projection is met, India would become the second world economy – after China – while the United States. it would be in third place.

Seven of the ten largest economies in the world will be, according to the study, markets that are now in the emerging category, while Indonesia has jumped to fifth place.

Braziltakes sixth place, with estimated GDP of 8.6 billion USD.

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The estimate is based on the nominal gross domestic product (GDP) – which includes country inflation – and taking into account the purchasing power of the population.

  • 46.3 India

  • 31 USA

  • 10 Indonesia

  • 9.1 Turkey


China has a special place in the report, given that its growth as the world's leading economy will take place in 2020 much earlier than other economic projections were expected.

"Our long-term growth prognoses are based on the key principle: the share of world GDP should eventually approach population"says the report."

Surprise Jump India

The share of Asia in global economic growth grew 28% last year and "is likely to reach 35% by 2030," the publication adds.

In that context India appears as one of the stars.

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The Indian economy would grow to 7.8% by 2020.

The study is likely to be the country with the highest trend in the scale, with a growth rate of 7.8% for 2020.

Among the reasons, economists point out that India is the country with the largest number of young people in the world, while other countries are severely affected by the aging population.

So much, that half of the population is younger than 25 years old.

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On the other hand, the country conducts reforms that can give a bigger boost to growth, such as the introduction of tax services and national assets and bankruptcy law.

Despite the benefits, he says in the study, the country requires greater spending on infrastructure and reducing growing economic inequality.

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