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future choice
Joining the BRICS seems to be the choice for the future. PwC predicts that by 2050, China will become the world’s largest economy, and India will surpass the United States to rank second. Indonesia, Brazil and Russia will rank fourth, fifth and sixth respectively.
In the coming decades, the power structure will change. If China and India accounted for 25% of global GDP in 2016, their contribution will reach 35% by 2050. The shares of the United States and the European Union will both decline in the future.
Viewed from another perspective, this contraction is clear. In 1995, the seven largest emerging economies, the E7 (China, India, Indonesia, Brazil, Russia, Mexico and Turkey), were only half the size of the G7 (the United States, the United Kingdom, Canada, Japan, Germany, France and Italy). By 2050, the situation will be reversed: the E7 could be twice the size of the G7.
Anwar has the data and trends right, and he takes a pragmatic view of how things are going. He is not content to keep a cool head on how things are going. He is likely to seek to provide leadership that will benefit the future.
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