{"id":293030,"date":"2019-01-13T07:00:54","date_gmt":"2019-01-13T05:00:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=293030"},"modified":"2019-01-11T14:10:07","modified_gmt":"2019-01-11T12:10:07","slug":"these-could-be-the-10-biggest-economies-in-the-world-by-2030","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/293030\/these-could-be-the-10-biggest-economies-in-the-world-by-2030\/","title":{"rendered":"These could be the 10 biggest economies in the world by 2030"},"content":{"rendered":"

Seven of the world\u2019s top 10 economies by 2030 will likely be current emerging markets.<\/p>\n

The prediction for a shake-up of the world\u2019s gross domestic product rankings comes in new long-term forecasts by Standard Chartered Plc, which includes a projection for China to become the largest economy by 2020, using purchasing power parity exchange rates and nominal GDP.<\/p>\n

India will likely be larger than the US in the same time period while Indonesia will break into the top 5 economies.<\/p>\n

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Note: Estimates are in trillions of international dollars, using purchasing power parity measures<\/em><\/p>\n

“Our long-term growth forecasts are underpinned by one key principle: countries\u2019 share of world GDP should eventually converge with their share of the world\u2019s population, driven by the convergence of per-capita GDP between advanced and emerging economies,” Standard Chartered economists led by David Mann wrote in a note.<\/p>\n

They project trend growth for India to accelerate to 7.8 percent by the 2020s while China\u2019s will moderate to 5 percent by 2030 reflecting a natural slowdown given the economy\u2019s size.<\/p>\n

Asia\u2019s share of global GDP, which rose to 28 percent last year from 20 percent in 2010, will likely reach 35 percent by 2030 — matching that of the euro area and U.S. combined.<\/p>\n

Here are some other findings from Standard Chartered\u2019s economists:<\/p>\n