Trend Megatrend 7: shift of power towards the East and the South

Summary

The seventh megatrend in the Megatrends 2040 report describes a continuing shift of global economic power away from the established advanced economies of North America, Western Europe and Japan. The beneficiaries are the emerging economies of the East and the South. The report attributes Asia's rise to modernization reforms, advances in science and technology, rapid growth in population and the middle class, and rich natural resources, which give Asian states the ability to help shape the future. Projections show China becoming the largest economy at market rates before 2030 and the influence of the G7 moving toward the E7 by 2050. The report expects a multipolar world with more regional powers, new geostrategic policies and emerging financial systems such as the New Development Bank.