WestVirginiaRebel Posted February 25, 2011 Share Posted February 25, 2011 CNBC:The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup. "We expect strong growth in the world economy until 2050, with average real GDP growth rates of 4.6 percent per annum until 2030 and 3.8 percent per annum between 2030 and 2050," Buiter wrote in a market research. "As a result, world GDP should rise in real PPP-adjusted terms from $72 trillion in 2010 to $380 trillion dollars in 2050," he wrote. As the world watches oil prices rise sharply amid unrest in the Middle East, Buiter's analysis of the world's long-term prospects offer some hope that better times are ahead but if he is right power will shift from the West to the East very quickly. "China should overtake the US to become the largest economy in the world by 2020, then be overtaken by India by 2050," he predicted.________Well, maybe we'll get our revenge when we become their tech support call center for a change... Link to comment Share on other sites More sharing options...
Saltbag Posted February 25, 2011 Share Posted February 25, 2011 It will be an incredibly sobering "I told you so" moment when the Chinese yuan overtakes the dollar as standard currency. 99% of the Americans have no clue of the consequences of losing the US Dollar as the global standard. Link to comment Share on other sites More sharing options...
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