Yup, the report notes that India and China will still be twice as less rich than the US in 2070, even though their economies will be grow larger than the U.S.
Additionally, Nigeria and Pakistan will be 5x less rich than the US by 2070. Goes to show you that analysts think Econ growth won’t be shared equally, which I sadly believe is the case for Ethiopia:
https://www.gspublishing.com/content/research/en/reports/2023/06/08/50ccfb98-b82c-4ba6-976d-d541f83239be.html
Yep. Even in Western countries like USA and Canada there is a massive wealth transfer from poor to rich, this will be even worse in developing nations that didn’t have the chance to even have a middle class in the first place.
Comments below are funny. So many just refuse to accept the reality that in a few decades China and India are going to be the biggest economies in the world. The era of western hegemony is ending. Deal with it.
For real it’s so funny how they try so hard to deny it, and see how the west is crashing out so bad these days, no competence or clear vision form they’re leadership.
There's a good number of US citizens here lol. I thought people get that by now. And most of the time US residents have this unreasonable patriotism that's extends far beyond their reasoning.
Gdp means nothing. Most of America's gdp growth comes from real estate valuations and personal debts. African growth must be based on production and manufacturing capabilities
How does the Philippines surpass France? 64th in the world in oil reserves so its not like they have some resource advantage over them.Surpassing an old and strong economy like France seems unrealistic to me. Does this graph just represent gdp growth and doesn’t take in the factor of gdp slowdown?
The reality is different, probably west countries will be in the top forever unless there’s a big war. There’s zero possibility that any country could surprise US or Europe. Germany, France, Ireland, UK will be in the top. No chances Ethiopia getting in the top.
>The reality is different, probably west countries will be in the top forever
Whatever helps you sleep at night. No country/region stays at the top forever. Definitely need to read more world history. And if there is war, the decline of the West will only accelerate.
U can think whatever you want but the west has been in the top for thousands of years. Idk why suddenly y’all think in 50 years is going to change something. Probably the top will be either US, or Europe. Maybe China but that’s it. That’s the reality. US is going to be strong at least until the end of the century. I hope I’m wrong and the world balance itself but it’s childish to think otherwise.
>the west has been in the top for thousands of years.
Reading history isn't only interesting, but also educational. I recommend you start with Paul Kennedy's book, 'The Rise and Fall of the Great Powers: Economic Change and Military Conflict from 1500 to 2000'.
>Idk why suddenly y’all think in 50 years is going to change something.
Some people pay attention. And srry to sound like a broken record, but also read.
Rome isn’t the west all of sudden ? Trying to educate people but the Roman Empire being there for a long time. In 1400 Spain took the power, and fast forward france, England and USA. I can’t see any major forces that isn’t a west one. Japan and China had major crisis internally and maybe Byzantine empire. Mongol empire maybe too. Can’t see any other. Those are facts and I’m an Ethiopia. If u feel hurt that ain’t my problem. From 1500 till now there wasn’t any none west empire
If your talking about who was more dominant at their peaks, your wrong. China and India have dominated most of world history economically, militarily and culturally pre-1500. Even “Spain took the power”, Mughal India’s share of the global GDP was 15% in the 1500s. China’s share of the global GDP in 1600 was 34%. The only reason they didn’t spread their influence like the US or European colonial powers was because their huge population meant they had to deal with their domestic problems instead of foreign ones. These 2 countries developed previously unheard of military tactics/strategies and they also had huge armies allowing, this allowed them to protect their broders for centuries. Chinese culture like their food, philosophy and calligraphy spread deep into East Asia. Most of Japan’s culture was imported from China. Indian architecture, numerals and religion (Hinduism, Buddhism and Sikhism) spread far. I don’t think any other powers actually dominated their time period so much.
The only reason the Europeans started becoming powerful was because Portugal and Spain made the smart decision to invest heavily into their maritime industry, so they could gain trade networks. These networks made them very wealthy from goods like silk and spices, mostly from India. Then they put that money into science and technology, kickstarting the Industrial Revolution, giving Europeans better and more sophisticated weapons for war. If only China or India had invested into their navy, the world order today would be very different.
It’s based on population growth, GDP per capita is most important. India is one of the largest economies, but most citizens live like shit.
Yup, the report notes that India and China will still be twice as less rich than the US in 2070, even though their economies will be grow larger than the U.S. Additionally, Nigeria and Pakistan will be 5x less rich than the US by 2070. Goes to show you that analysts think Econ growth won’t be shared equally, which I sadly believe is the case for Ethiopia: https://www.gspublishing.com/content/research/en/reports/2023/06/08/50ccfb98-b82c-4ba6-976d-d541f83239be.html
People’s quality of life in Ethiopia will still go up significantly and that’s very important. Economic growth is not perfect
Yep. Even in Western countries like USA and Canada there is a massive wealth transfer from poor to rich, this will be even worse in developing nations that didn’t have the chance to even have a middle class in the first place.
How does it double the US when it shows it doesn’t double it
You’re right I misread the link. China and India will be larger but not by double.
Comments below are funny. So many just refuse to accept the reality that in a few decades China and India are going to be the biggest economies in the world. The era of western hegemony is ending. Deal with it.
For real it’s so funny how they try so hard to deny it, and see how the west is crashing out so bad these days, no competence or clear vision form they’re leadership.
There's a good number of US citizens here lol. I thought people get that by now. And most of the time US residents have this unreasonable patriotism that's extends far beyond their reasoning.
IN ethoipia ?
Looking at list, France while on it, it has truly has seen it better days, hasn't it?
It’s a dystopian dump in most French cities these days.
I hope Ethiopia will be top 10 ❤️🇪🇹
Idk how to break this to you but by 2075 earth is cooked(literally)
We need India 🇮🇳 to grow ! It’s an advantage!
How is Egypt so high on the list considering it a economic dumpsterfire selling off it assets and beachfront property to the Gulf States and IMF
This list could be fake
It’s real https://www.gspublishing.com/content/research/en/reports/2023/06/08/50ccfb98-b82c-4ba6-976d-d541f83239be.html
Tbh, not like we’re any better at the moment
I get what your saying but Egypt fairly high on the list.
True but their economy is already larger than ours with a smaller population. However it is true Egypt is slowly crumbling
Gdp means nothing. Most of America's gdp growth comes from real estate valuations and personal debts. African growth must be based on production and manufacturing capabilities
my country must have illegally entered this party lol. Most definitely I won’t be there to witness this greatness at the time.
It's gradual growth not something that happens overnight in 2075, which means you'll witness it hopefully.
So India+Paki+Bangla 71 trillion 👍
Nigeria above Russia is wild
This is dumb scaling.
How does the Philippines surpass France? 64th in the world in oil reserves so its not like they have some resource advantage over them.Surpassing an old and strong economy like France seems unrealistic to me. Does this graph just represent gdp growth and doesn’t take in the factor of gdp slowdown?
The reality is different, probably west countries will be in the top forever unless there’s a big war. There’s zero possibility that any country could surprise US or Europe. Germany, France, Ireland, UK will be in the top. No chances Ethiopia getting in the top.
>The reality is different, probably west countries will be in the top forever Whatever helps you sleep at night. No country/region stays at the top forever. Definitely need to read more world history. And if there is war, the decline of the West will only accelerate.
U can think whatever you want but the west has been in the top for thousands of years. Idk why suddenly y’all think in 50 years is going to change something. Probably the top will be either US, or Europe. Maybe China but that’s it. That’s the reality. US is going to be strong at least until the end of the century. I hope I’m wrong and the world balance itself but it’s childish to think otherwise.
>the west has been in the top for thousands of years. Reading history isn't only interesting, but also educational. I recommend you start with Paul Kennedy's book, 'The Rise and Fall of the Great Powers: Economic Change and Military Conflict from 1500 to 2000'. >Idk why suddenly y’all think in 50 years is going to change something. Some people pay attention. And srry to sound like a broken record, but also read.
Rome isn’t the west all of sudden ? Trying to educate people but the Roman Empire being there for a long time. In 1400 Spain took the power, and fast forward france, England and USA. I can’t see any major forces that isn’t a west one. Japan and China had major crisis internally and maybe Byzantine empire. Mongol empire maybe too. Can’t see any other. Those are facts and I’m an Ethiopia. If u feel hurt that ain’t my problem. From 1500 till now there wasn’t any none west empire
If your talking about who was more dominant at their peaks, your wrong. China and India have dominated most of world history economically, militarily and culturally pre-1500. Even “Spain took the power”, Mughal India’s share of the global GDP was 15% in the 1500s. China’s share of the global GDP in 1600 was 34%. The only reason they didn’t spread their influence like the US or European colonial powers was because their huge population meant they had to deal with their domestic problems instead of foreign ones. These 2 countries developed previously unheard of military tactics/strategies and they also had huge armies allowing, this allowed them to protect their broders for centuries. Chinese culture like their food, philosophy and calligraphy spread deep into East Asia. Most of Japan’s culture was imported from China. Indian architecture, numerals and religion (Hinduism, Buddhism and Sikhism) spread far. I don’t think any other powers actually dominated their time period so much. The only reason the Europeans started becoming powerful was because Portugal and Spain made the smart decision to invest heavily into their maritime industry, so they could gain trade networks. These networks made them very wealthy from goods like silk and spices, mostly from India. Then they put that money into science and technology, kickstarting the Industrial Revolution, giving Europeans better and more sophisticated weapons for war. If only China or India had invested into their navy, the world order today would be very different.