Does the much-heralded growth in economic muscle of the emerging economies provide an opportunity or pose a threat?
The major shift in economic power to emerging countries such as China and India should be grasped by those in established economies as an opportunity to boost trade rather than feared as an economic death knell.
This is just one conclusion of the PricewaterhouseCoopers report The World in 2050, which takes a fresh look at just how big the emerging market economies will get and how the OECD countries can compete.
By the year 2050, what the reports calls the "E7" economies — China, India, Brazil, Russia, Indonesia, Mexico and Turkey — will have outstripped the current G7 — US, Japan, Germany, UK, France, Italy and Canada - by between 25% when comparing GDP using market exchange rates to around 75% when using purchasing power parity (PPP) exchange rates.
See full Report.
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