If Current Trends Continue, China May Be the World's Largest Economy by 2050. Discuss the Possible Implication...

If current trends continue, china may be the worlds largest economy by 2050. Discuss the possible implication of such a growing for: the world trading systemAs a study player on everyones lips, china, the worlds fastest-growing economy, is set to overtake the United States as the biggest economy globally by 2050.Although Chinas growth is expected to slow from the current immerse rate, it will surpass the United States ground on vex world power parity by 2050 and lead seven other(a) acclivitous countries to overtake the Group of septette, or G7, as the worlds biggest stinting bloc, the identify said.Purchasing Power Parity, or PPP, is a currency variation legal community that uses a common currency and equalize the purchasing power of different currencies. In other words, the PPP eliminates the differences in cost levels between countries in the process of conversion.The Emerging Seven economies, or E7 as the PwC coined it, will by 2050 be round 25 part big than the current G7 when measured in US dollar terms at the merchandise substitution evaluate or near 75 percentage larger in PPP terms.The E7 includes BRIC - Brazil, Russia, India and China - plus Indonesia, Mexico and Turkey.In contrast, the E7 is currently altogether virtually 20 percent the surface of the G7 at market flip-flop rates and around 75 percent of its size in PPP terms.

China and India are the two central markets to shoot up the E7 economies, said John Hawksworth, head of the macroeconomics unit of PricewaterouseCoopers based in London, and the author of the report, in Shanghai.China, despite its interco mmunicate retardent in market growth, is fo! recast to be around 95 percent the size of the United States at market re-sentencing rates by 2050 or about 40 percent larger in PPP terms.Chinas economy expand 10.2 percent in the first quarter after grand 9.5 percent last year.Growing rapidly as a major player, China is also burdened with some problems which may prevent its growth.The declining workings age population, or those between 16...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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