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America will fall to number three on the list of the world's largest economies behind China and India, a British financial services firm is predicting.
China will overtake the United States as the world’s largest economy in a decade’s time while India will assume second place, according to Standard Chartered, which unveils its annual rankings of the world’s ten largest economies.
America - List - Giants - Fox - Business
It predicts that America will fall to third on the list behind the two Asian giants by 2030, according to Fox Business.
The firm predicts that the new global order will see current emerging markets occupy seven of the top 10 spots.
America - China - India - Indonesia - Slot
While America is expected to trail behind China and India, Indonesia will vault into the fourth slot.
‘Our long-term growth forecasts are underpinned by one key principle: countries’ share of world GDP should eventually converge with their share of the world’s population, driven by the convergence of per-capita GDP between advanced and emerging economies,’ Standard Chartered economists write in their study.
Size - Country - Economy - Product - GDP
The size of a country’s economy is determined by gross domestic product (GDP), which measures the market value of all the final goods and services produced in a period of time.
Standard Chartered predicts that Turkey will round out the top 5.
Brazil - Country - Economy - GDP
Brazil is the only Latin American country in the top 10. It is predicted to be the sixth largest economy by 2030, with a GDP of $8.6trillion.
Egypt is the only Middle Eastern country on the list. It is predicted to have the seventh largest economy with a GDP of $8.2trillion.
Russia is slated to be the...
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