Signal PwC cited: China already largest in PPP terms and largest at market rates before 2030

Summary

Citing the latest PwC report, the Megatrends 2040 report states that China has already overtaken the United States in purchasing power parity terms. China is also expected to become the world's largest economy at market exchange rates before 2030. On a similar path, India is projected to overtake the United States by 2050 to become the second-largest economy. Indonesia is expected to climb to fourth place, surpassing advanced economies such as Japan and Germany. The report presents these projections as evidence of a continuing shift of economic power toward the emerging economies of the East and the South.