G7 Nations Could Fall Behind Emerging Economies In 2032: PwC

Bloomberg:

The Group of Seven economies will be surpassed in size by the largest emerging markets in just over two decades as the financial crisis accelerates the shift of power in the global economy, PricewaterhouseCoopers LLP said.

Read the whole story: Bloomberg

Comments

[themodernleader]

11:30 AM on 01/08/2011

   The Western world has come under the spell of financial interests, insider trading and the fast buck.  They have forgoten that the wealth of nations derives from the intelligent application of natural  resources, human resources and emerging technology and competence. Money is not the end but the means to commerce and civilized living. They have forgotten that the former colonies of mercantelistic nations have themselves become mercantelistic nations.  The roles of exploters and exploited have been reversed.

[logicanada]

06:07 PM on 01/07/2011

By 2032 ? How about by 2012. China and India are both putting us to shame with innovation, technology and on the job front. Even Brazil is doing better per capita than we corporatists.

[sonoffestus]

02:49 PM on 01/07/2011

Thirty years ago I went on my first busines trip to China. It was a very different place than it is today. I remember having breakfast with my wife the first morning I returned. I can remember saying to my wife, "I hope we are good friends with the Chinese because we will all be working for them one day."

That was 30 years ago.............This article says that in 20 years emerging nations will surpass the G7................I wish I had been a betting man. Yes, it will happen 20 , 25 or possibly sooner,it will happen.