The global economy could be facing a major shakeup.
A new report by Standard Chartered Bank, predicts China will unseat the United States as the dominant financial power as soon as next year. India will be coming in second by 2030, with America falling to third place. Seven of the top 10 economies could belong to emerging markets.
CGTN’S Nathan King reports.
- Perry Wong is the Managing Director of Research at the Milken Institute.
- Ravi Ramamurti is a Distinguished Professor and the Director of Northeastern University’s Center for Emerging Markets.
- John Sitilides is a Geopolitical Strategist with Trilogy Advisors.
- Yan Wang is a partner with Alpine Macro and their Chief Emerging Markets.
— Global Times (@globaltimesnews) January 21, 2019
Latest data on #ChinaEconomy:
– Industrial output expanded 6.2 percent in 2018；
– Fixed-asset investment grew 5.9 percent year on year in 2018；
– Per capita disposable income stood at 28,228 yuan (4,165 U.S. dollars) pic.twitter.com/IP66KpA6Yo
— China Xinhua News (@XHNews) January 21, 2019