By 2050, the new structure of G7 may be headed by China, followed by the United States, India, Brazil, Japan, Russia and Mexico, PriceWaterhouseCoopers (PwC) says in their report The World in 2050.
The financial crisis, which has affected G7 economies more seriously than emerging countries, is accentuating the fast displacement of the world economy’s center of gravity towards the latter, according to a study by PwC published last Wednesday.
The Report considers that by 2050 mean annual growth of Gross Domestic Product (GDP) in emerging countries should reach or even exceed 4%, while that of developed countries will be under 2%.
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Chinese firms continue to expand aggressively abroad, competing fiercely with incumbent heavy weights in a growing number of industries. China expert Shaun Rein identifies the key drivers, predominant sectors and human resource implications of unprecedented international growth by state-owned and privately held Chinese corporations in an interview with IRC Institute.