Region:
BRICS
Category:
Economy

India is on track to become the 3rd. world economic power with China and USA

Region:
BRICS
Category:
Economy
Publication date:
Print article

Through the growing middle class, China and India promoted the internal development and external business, boosting their economies. This caused them to grow and be projected in the future as the first and the third world economy

For some time we have pointed out in ABC MUNDIAL regarding the growing economies of Asia.

According to the ranking prepared by the Research Centre for Economics and Business Administration (CEBR) predicted that by 2030 the economic globalization will have reached its maturity stage, leading to the economy of China will become the world number one. United States currently maintains the prevalence worldwide.

China and the US are the engines of the global economy, but more interesting is to know which countries accompany the two superpowers.

One is India. The amazing growth of the Indian economy, will be the country that will climb to third place. The table on the "League World Economies" indicates that the table is completed with Japan, a rising Brazil, the UK, Germany, South Korea, France and Russia.

The two most populous countries on earth, China and India, based their growth projects in converting much of its citizens into consumers.

While in other countries, governments are facing the middle class in India and China have planned that the growth engine is consuming a class with greater purchasing power and demand for local products and the world. In this way they are Asian countries.

Currently in Japan, another country ranking of nations that dominate the world economy, Prime Minister Shinzo Abe has asked entrepreneurs to significantly increase wages, to generate more consumption and thus give a boost to production.

"The league of world economies shows the dramatic changes taking place in the global economic geography, with slow-growing European economies that are lagging behind, and those Asian record that despite a slowdown are reaching the top," said Douglas McWilliams , executive director of CEBR.

The only European country that is experiencing a steady increase in the table is Sweden, "whose economy has been revitalized by successive governments." "Many European economies should learn from the lessons that is giving Sweden," said McWilliams.

The annual study by the Centre, prepared by economists, analysts and experts statesmen, also said the UK, which in recent years managed to overcome the deepest recession since the Second World War, managed to overcome in the table to France to take the fifth since. According to the company, by 2030 the UK economy will be even bigger than Germany.

The study emphasizes the "unstoppable" rising India, which will allow overcome the UK in 2018 to become the largest economy in the call Commonwealth of former British colonies, and the third largest economy in the world by 2024.

With respect to China, a giant who is growing, the CEBR highlights its progress remains as strong and sustained easily surpass the US as the largest economy in the world by 2025.

The agency also said Germany will recede as a global economic power, mainly due to a population decline and the weakening of the euro, allowing the UK exceed it in 2030 for the first time since 1954.

The economic problems that drag Russia, with a ruble weakened and finances affected by low oil prices, will lead the country to a significant decline. This year fell from eighth to tenth, and is expected to remain around that position until 2030.

But beyond Russia, the big losers in this global analysis are Europeans. Allayed fears that the eurozone flogged during the debt crisis, Europeans saw the emergence this year the threat of economic stagnation and growing unrest in the population.

With unemployment at 11.5%, inflation of 0.3% and forecast growth of 0.8% as a backdrop, the leaders of the two largest European economy, Angela Merkel and François Hollande, sought different outlets. The German did with fiscal discipline and French with slow reforms.

Instead Asian countries like China and India fostered internal and external business development, strengthening their economies. This caused them to grow and be projected in the future as the first and the third world economy.

traslation: Belén Zapata