LONDON – According to the UK-based bank projections, it believes that sevenof the world’s top 10 economies will come from emerging markets.
Moreover, this projection is based on gross domestic product (GDP) rankingsand by this yardstick, China could emerge as the world’s largest economy by2020.
However, a decade later the margin could widen greatly, and India looks togain space too.
Also, the forecast stated Indonesia could break into the top five worldeconomies by 2030.
It forecast India’s economic growth to accelerate to 7.8% by the 2020s,whilst China’s growth will slow to 5.0% by 2030, indicative of a naturalslowdown owing to the economy’s size.
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And Asia’s share of the global pie increased to 28% in 2018 compared to 20%in 2010.
As per Standard Chartered’s projections, this would possibly touch 35% by2030, equaling cumulatively that of the United States and Euro area.
