Asia – The Asian Economies Rule the World by 2030

Asia – The Asian Economies Rule the World by 2030

  • Post Category:Asia / News

The prediction of the most powerful economies in 2030

PricewaterhouseCoopers, a multinational professional services network, published a report predicting the most powerful economies in 2030. The report clearly highlights that the center of global trade is, and has been for a while, moving towards the East – and that by 2030, China will be the next global economic powerhouse. Only the United States can compete in the top five with China, India, Japan and Indonesia.

A boy is standing on a high building in Shanghai while he is looking over the city and holding a red stick during a night in Shanghai. Shanghai is one of the leading powers of China’s economic growth. Photo by Yiran Ding / CC BY

The paper lists 32 countries by their projected global gross domestic product by purchasing power parity. PPP is used when comparing countries by equalizing the purchasing power of two currencies, by taking into account the cost of living and inflation differences. All Asia Exchange destinations countries can be found on the list, as well! China, Japan and Indonesia make it to the top five, while South Korea is 14th, Thailand 22nd and Malaysia 25th.

According to PwC, China will overtake the United States as the number one economy in 2030. There is no surprise that Japan is number 4, considering its status as the world’s economic power. Indonesia also makes it to the top five, and this is a clear indication of the country’s huge potential also in economic terms. The report also predicts that by 2050 Indonesia will take the fourth place signifying that the growth of Indonesia’s economy is not going to stop anytime soon. One of the Four Tigers, South Korea, is at number 14. South Korea started its rapid industrialization after the Korean War and is now one of the most highly developed countries in Asia.

You might also be interested in: Top 5 Reasons why Studying Abroad in South East Asia Pushes Your Academic CV

Despite many of the Asian countries being relatively newly developed, they are growing quickly and the growth is continuing at a steady pace. Asian countries represent the future, and millions of people every year travel there for work and school. Knowledge of Asia is a valuable asset in today’s job market since more and more companies are expanding to Asia.

See the whole list below.

32. Netherlands — $1.08 trillion

31. Colombia — $1.111 trillion

30. South Africa — $1.148 trillion

29. Vietnam — $1.303 trillion

28. Bangladesh — $1.324 trillion

27. Argentina — $1.342 trillion

26. Poland — $1.505 trillion

25. Malaysia — $1.506 trillion

24. Philippines — $1.615 trillion

23. Australia — $1.663 trillion

22. Thailand — $1.732 trillion

21. Nigeria — $1.794 trillion

20. Pakistan — $1.868 trillion

19. Egypt — $2.049 trillion

18. Canada — $2.141 trillion

17. Spain — $2.159 trillion

16. Iran — $2.354 trillion

15. Italy — $2.541 trillion

14. South Korea — $2.651 trillion

13. Saudi Arabia — $2.755 trillion

12. Turkey — $2.996 trillion

11. France — $3.377 trillion

10. United Kingdom — $3.638 trillion

9. Mexico — $3.661 trillion

8. Brazil — $4.439 trillion

7. Germany — $4.707 trillion

6. Russia — $4.736 trillion

5. Indonesia — $5.424 trillion

4. Japan — $5.606 trillion

3. India — $19.511 trillion

2. United States — $23.475 trillion

1. China — $38.008 trillion

Source

Asia Exchange students have also realized the potential and more than 4000 students have already taken the opportunity to study in Asia.

Find out more about studying in Asia

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This article was written by Nella!