Shenzhen, China – August 28, 2018 – Despite the current turmoil in the global economy due to the trade stand-off and Lira troubles, it is worthwhile to take a long term perspective and see where the winds are headed. As per OECD, long term projections indicate three Asian countries will dominate the economy by 2060: China, India and Indonesia.
As per OECD, the US GDP growth will overtake China by 2040. By the same year, China’s economy will be bigger by 77% in dollar terms compared to the US. In the next twenty years, the economic focus would have shifted to Asia, and nearly half of the share of the economy will belong to China, India and Indonesia.
The above projections have been arrived at by considering a number of factors that include capital stock, growth in jobs, rise in labor and productivity. The countries under analysis include all 35 members of OECD, eight members of the G20 and three key partners.
Another key forecast is the rise in tax revenue by average 6.5 percentage of GDP. This revenue will go towards meeting health and pension demands and lessening the debt burden of the governments.
“Asian countries, as expected given the troubles in the western hemisphere, will likely form the fulcrum of global economy in not a distant future. This is a good perspective for investors to keep in mind,” said a spokesperson for Avic Management.
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