The PwC study from 2013 predicts a drastic change in the world's economy by the year 2050. The report concludes that the emerging economies are set to grow much faster than the G7 over the next four decades, while the global economy will increase by 3% every year.
Here are some predictions that will surely affect our everyday life:
- The E7 could overtake the G7 before 2020
- By 2050 Russia, Mexico and Indonesia could be bigger than Germany or the UK
- Turkey could overtake Italy
- Poland could continue to outpace its Western European neighbours
- China will become the world's biggest economy
So, if the predictions are correct, none of the European countries will be a major player in the world's economy in the next few decades, with Russia, China, India and the emerging economies from South America becoming the new "West".
This really makes you wonder if euroscepticism isn't the craziest answer to the 2008 recession, considering what we'll have to deal with in the close future.
What's your opinion? Are the predictions realistic?
How will EU face the new "world order" and how it will affect us, the regular citizens?
More about the study you can read here: http://www.pwc.com/en_GX/gx/world-2050/the-brics-and-beyond-prospects-challenges-and-opportunities.jhtml