PwC: G-7 Will Be Overtaken by Emerging Economies in 2032

The combined gross domestic product of the seven biggest developing economies will exceed that of the G-7, the world’s largest industrialized markets, in 2032 using projected market exchange rates, PricewaterhouseCoopers LLP said in a report released in London today. China will overtake the U.S. as the world’s largest economy also in that year, it said.

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In 2009, the combined GDP what PricewaterhouseCoopers calls the Emerging Seven of China, India, Brazil, Russia, Indonesia, Mexico, and Turkey was the equivalent of 35 percent of the G-7. By 2020, E-7 GDP will increase to about 70 percent of the G-7’s, and by 2050 it will be 64 percent larger, according to the report.

Also in 2032, Brazil’s economy will overtake Germany’s in size, while India will eclipse Japan in 2028, the accountancy firm said.

Read at: Bloomberg