'Asia to account for over 50 percent of global GDP by 2050'
Monday, 18 April 2011, 16:39 IST
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New Delhi:Calling for improved economic collaboration among India, China and Japan, an ADB report has said Asia could re-emerge as engine of global growth by 2050 accounting for over 50 percent of the world GDP, up from 35 percent, at present. Under the best case scenario, a report prepared by the multilateral lending agency Asian Development Bank (ADB), said Asian nations would account for 52 percent of the global economic output, followed by Europe at 18 percent and North America at 16 percent by 2050. The report, Asia-2050 was recently discussed at the Planning Commission. Besides greater cooperation among the leading nations of India, Japan and China, the report also called for open trading system and peace and security for expediting growth.
Source: IANS
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