29 January 2011

Report: The World Economy in 2050

60% of the countries in the global economic top 10 will be the now-developing countries by 2050 states PricewaterhouseCoopers (PwC) in its latest report 'world in 2050'

It states that over the next 40 years, western dominance of the global economic league will end. The prediction is that six of the 10 largest economies will be now-developing countries, from just two today: China and Brazil. China will replace the United States at the top of the league, while the United Kingdom - now sixth will slip to 9th or 10th, outpaced by Brazil, Mexico and Russia.
However, it predicts that the UK will fare better than some of its european rivals: France, Italy and Spain who will be out of the top 10 altogether. It recommends that the UK should focus on exports. At the present moment- only 7% or so of UK exports go to the fast growing BRIC countries - it needs to do better here to save itself from too much of a slippery slide.