
Sam Mendoza
shared a media post in group #The Most Important Thing
Visualizing the global economic shift
Look at how 15 of the top global economies stack against each other over 3 decades, based on their GDP
#Data is beautiful
A lthough the global economy has been hit hard by the pandemic, it has continued to move ahead with the recovery taking shape. Despite the persistent risks right now, the global economy is expected to continue to grow in the coming years. And the most looked forward to forecasting is China taking over the United States as the largest economy in the World. It is also interesting to see how the global powerhouse has shifted from Europe to North America and now Asia.
Some of the original estimates had put China on track to overtake the U.S in terms of GDP by 2026–27, but the robust economic recovery of the former after the pandemic and the latter’s struggle with the COVID-zero policy has pushed this event to 2030. India is expected to become the third-largest country in terms of GDP with $10.8 trillion projected in 2031 — overtaking Germany and Japan in the process. It is a staggering growth for the South Asia economy, which had a GDP of only $949B in 2006.
Currently and the projections for the future show that 3 of the top 5 economies in the World are located in Asia (China, India & Japan) — which goes to show how the economic power has shifted from the West to the East. Indonesia is expected to move to №8 in 2036 with a projected GDP of $4.1 trillion.
Brazil will be the only South American entry with a $4.0 trillion GDP in 2036, while Russia is expected to capture the 10th spot with $3.5 trillion. However, a huge question mark remains around Russia with the crushing sanctions and global isolation it is facing right now, in the wake of the Ukraine war.
