India likely to be world`s no. 1 economy by 2050: Citi

[DelhiDareDevil]

Citi in its latest report on Global Growth Generators said that India can overtake China and the US to become the largest economy in the world by 2050.

``China should overtake the US to become the largest economy in the world by 2020, and then be overtaken by India by 2050,`` Willem Buiter, Economist, Citigroup said.

It expects strong growth in the world economy until 2050, with average real GDP growth rates of 4.6% pa until 2030 and 3.8% pa between 2030 and 2050 - as a result, world GDP should rise in real PPP-adjusted terms from USD 72 trillion in 2010 to USD 380 trillion in 2050.

Developing Asia and Africa will be the fastest growing regions, driven by population and income per capita growth, followed in terms of growth by the Middle East, Latin America, Central and Eastern Europe, the CIS, and finally the advanced nations of today.

Many EMs have either opened up already or are expected to do so, and have reached a threshold level of institutional quality and political stability.

Bangladesh, China, Egypt, India, Indonesia, Iraq, Mongolia, Nigeria, Philippines, Sri Lanka and Vietnam have the most promising (per capita) growth prospects and they are 3G countries.

Institutions and policies are more important for growth once countries have achieved a fair degree of convergence, it added.

``Growth will not be smooth. Expect booms and busts. Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters. When it comes to that, don`t believe that `this time it`s different,`` it concluded

http://www.myiris.com/newsCentre/storyShow.php?fileR=20110223193532038&dir=2011/02/23&secID=livenews

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How can Citi Bank ever publish such news? India wont even be a top 2 economy, let alone a #1.

 

[Dalai Lama]

2050 is ages away. I prefer to live in the present.


...Here come the trolls.

 

[GLOBAL HAWK]

will see

 

[Guli Danda]

nooooo,just see how trolls flow in now......

 

[Whiplash]

Does it really matter who's number one when? And btw these preditcions seldom come true. Think of it, they predicted China would overtake Japan by 2020. They did it ten years in advance. Stop living so much in the future. We have too many challenges up ahead

 

[Truth Teller]

good luck indians. 4 more decades to go, and your there

 

[Chinese-Dragon]

China should overtake the US to become the largest economy in the world by 2020.

This is an over-optimistic prediction. Seriously.

The Goldman Sachs 2050 prediction seems much more realistic.

Anyway, predicting what will happen half a century into the future, is a pointless exercise.

 

[Kyusuibu Honbu]

Another economics Nostradamus.

Lets stick to the present guys.

 

[blackops]

2050 39 years are left its a very long time and its early to say so there can be a boom in you economy depresetiom in your economy any thing can happen so lets see

 

[prototype]

@Delhidaredevil

u have no idea what u had just done,u just presented a thread and plating it with cheese to invite all the anti Indian bashers of the forum to come here and hijack and ruin the thread with anti Indian rhetoric of starvation,HDI,poverty,1962,toilets,dalits,muslims,christian's and whatever else

 

[Veeru]

Citi in its latest report on Global Growth Generators said that India can overtake China and the US to become the largest economy in the world by 2050.

``China should overtake the US to become the largest economy in the world by 2020, and then be overtaken by India by 2050,`` Willem Buiter, Economist, Citigroup said.

It expects strong growth in the world economy until 2050, with average real GDP growth rates of 4.6% pa until 2030 and 3.8% pa between 2030 and 2050 - as a result, world GDP should rise in real PPP-adjusted terms from USD 72 trillion in 2010 to USD 380 trillion in 2050.

Developing Asia and Africa will be the fastest growing regions, driven by population and income per capita growth, followed in terms of growth by the Middle East, Latin America, Central and Eastern Europe, the CIS, and finally the advanced nations of today.

Many EMs have either opened up already or are expected to do so, and have reached a threshold level of institutional quality and political stability.

Bangladesh, China, Egypt, India, Indonesia, Iraq, Mongolia, Nigeria, Philippines, Sri Lanka and Vietnam have the most promising (per capita) growth prospects and they are 3G countries.

Institutions and policies are more important for growth once countries have achieved a fair degree of convergence, it added.

``Growth will not be smooth. Expect booms and busts. Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters. When it comes to that, don`t believe that `this time it`s different,`` it concluded

http://www.myiris.com/newsCentre/storyShow.php?fileR=20110223193532038&dir=2011/02/23&secID=livenews

=====================

How can Citi Bank ever publish such news? India wont even be a top 2 economy, let alone a #1.

I am happy for the Bangladesh.

 

[DelhiDareDevil]

@Delhidaredevil

u have no idea what u had just done,u just presented a thread and plating it with cheese to invite all the anti Indian bashers of the forum to come here and hijack and ruin the thread with anti Indian rhetoric of starvation,HDI,poverty,1962,toilets,dalits,muslims,christian's and whatever else

Hope not, but good to hear Asian and Africa per capita income is expected to grow and neighbours like China, Bangladesh and SL.

But I feel it will be a China no.1 followed by either India or USA.

 

[blackops]

Hope not, but good to hear Asian and Africa per capita income is expected to grow and neighbours like China, Bangladesh and SL.

But I feel it will be a China no.1 followed by either India or USA.

Brother you are predicting to much let the time come

 

[Roby]

Do we need to post this predictions again and again?

 

[tallboy123]

How about predicting wat will happen in 2012 rather than 2050...
Close this thread and open it @ 2050