Processing .....please wait.. 
The article has been forwarded.... 
10 Countries to Rule World Trade
By siliconindia
|
Wednesday, 04 January 2012, 01:58 IST |
1 Comments
Bangalore: The economy is suffering through a tough phase, and there is no definite picture how the global economy will look in the next year. In a report by Citigroup titled as Trade Transformed: The Emerging New Corridors of Trade Power, the economists' project that the world trade in real terms is set to jump from $37 trillion in 2010 to $287 trillion in 2050. Chief Economist, Willem Buiter recently published forecasts for global trade in 2050, where Europe is predicted to face turmoil, China is expected to overtake U.S. as the world's leader in trade as early as 2015. Asia is expected to turn into world's largest regional trade corridor in the coming time.
Listed below are 10 countries by Business Insider that are expected to rule world economy by 2050.
China
China's economy will not break; instead, it will continue its vigorous energy and stay as a blaze of optimism for the still fragile world economy in 2012. China is expected to overtake the U.S. to become the world's largest trader by 2015 and to remain in the top spot for the rest of our forecast horizon. It has already occupied the spot of the top exporter of goods and services. China is set to maintain its economic overhaul, and pull out its economy from the deep dependence on exports and set free for more domestic demand. China is expected to trade for around $52.2 trillion by 2050, with around 18.2 percent of world trade. China currently accounts for 9.5 percent of world trade, which is $ 3.6 trillion and it will soon overtake U.S. by 2015. Chinese leaders have also expressed a rigid assurance to reduce trade barriers and encourage regional integration in the Asia-Pacific region.
India
The Economy of India is the ninth largest in the world by nominal GDP and the fourth largest by Purchasing Power Parity (PPP). It is one of the G-20 major economies and a member of BRICS. The economic growth, as calculated by the Gross Domestic Product, improved to 8.5 percent in 2010-11 from 8 percent in 2009-10 due to better farm output and construction activities and financial services performance. India is ranked at second position in the report. Though the country was not included in the list of top 10 countries by trade in 2010, it is expected to set an account for 2.8 percent of world trade in 2015 and 5.6 percent by 2030. The country is expected to trade $25.7 trillion by 2050 including 9 percent of world trade.
