Sunday, November 11, 2012

China to Become the World's Largest Economy in 4 Years - OECD

Sunday, November 11, 2012
China to become the biggest economy on the globe by 2016 and, in the long run, the second place should be filled by Indian. This is the summary achieved by the OECD in a research of international development in 2060, reported RFI.

From 2016, China will surpass the United States with the leading global GDP, China has overtaken the euro area this year, according to a new OECD model.

Behind China's profile in India, which is expected to become the world number two in 20 years, primarily due to the decline in Europe and Japan, who are suffering from a quickly ageing inhabitants, which will be superseded in term by Indonesia and Brazil.

Soon China and India will weigh more, between them, as all the G7 economies.

However, the hierarchy is turned upside down as it takes into account the standard of living per capita. By 2060, every Chinese and every Indian should see its income multiplied by seven, but the standard of living of Chinese, despite this remarkable progress, still only represent 60% of the standard of living of the richest countries . 

And an Indian, it will be only 25% reached the standard of living in the most advanced countries, which in this period will be doubled per capita income.


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