The biggest nation on Earth, China, is expected to keep its top spot as the country with the largest purchasing power on Earth and is on track to almost triple its purchasing power by 2030, according to an analysis by the British Bank, Standard Chartered.
India will almost quadruple its purchasing power, moving to rank 2.
China will double the USA while India will beat USA by approx 50%.
In the case of Japan, the country is expected to lose 5 ranks and emerge as the country with the 9th highest purchasing power worldwide.
Developing economies like Indonesia, Turkey, Brazil and Egypt are set to move into ranks four to seven respectively, toppling the reign of countries like Japan and Germany, which are still growing their purchasing power but at a much slower rate. The U.S. is expected to only drop one rank to position 3 but is grappling with slower growth.
In summary – an amazing outcome for Asia – especially China, India and Indonesia.
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