China will become the world's largest economy by 2030, while India will surpass the US

In 2030, the United States will become the third largest economy in the world behind China and India, claiming new financial rankings

  • The British financial services company Standard Chartered predicts 10 major economies by 2030
  • It claims that China will take over the top position, while India will be the second largest
  • It is expected that the United States will finish in third place, while Indonesia will take fourth place
  • The top 10 is rounded off by emerging markets, including Turkey, Brazil, Russia and Egypt

Ariel Zilber for Dailymail.com

and
Reuters

America will move to third place on the list of the world's largest economies behind China and India, predicts a UK financial services provider.

China will overtake the United States as the largest economy in the world within a decade, while according to Standard Chartered, India will take second place, revealing its annual ranking of the world's ten largest economies.

According to Fox Business, in 2030 America will ranks third in the list behind the two Asian giants.

The company predicts that the new global order will occupy the current emerging markets seven of the top 10 places.

China will overtake the United States as the largest economy in the world within a decade, while according to a British financial service provider, India will take second place. The above image is a stock photo of Hong Kong

China will overtake the United States as the largest economy in the world within a decade, while according to a British financial service provider, India will take second place. The above image is a stock photo of Hong Kong

While it is expected that America will follow India and India, Indonesia will take fourth place.

Our long-term growth forecasts are supported by one key principle: the share of countries in global GDP should eventually converge with their share of the world's population, driven by the convergence of GDP per capita between advanced and emerging economies, & # 39; Standard Chartered economists write in their study.

The size of a country's economy is determined by the gross domestic product (GDP), which measures the market value of all end products and services produced in a given period.

Standard Chartered predicts that Turkey will complete the top 5.

India, and not the United States, predicts that by 2030 it will be the second largest economy in the world. The image above is a stock photograph of the Indian financial center of Mumbai.

India, and not the United States, predicts that by 2030 it will be the second largest economy in the world. The image above is a stock photograph of the Indian financial center of Mumbai.

India, and not the United States, predicts that by 2030 it will be the second largest economy in the world. The image above is a stock photograph of the Indian financial center of Mumbai.

Standard Chartered predicts that America will fall behind the two Asian giants in 2030. New York City can be seen in the above file photo

Standard Chartered predicts that America will fall behind the two Asian giants in 2030. New York City can be seen in the above file photo

Standard Chartered predicts that America will fall behind the two Asian giants in 2030. New York City can be seen in the above file photo

Brazil is the only Latin American country in the top 10. It is expected to be the fifth largest economy by 2030, with a GDP of $ 8.6 trillion.

Egypt is the only country in the Middle East on the list. It is predicted to have the seventh largest economy with a GDP of $ 8.2 trillion.

Russia is on the verge of becoming the eighth largest economy with a GDP of $ 7.9 trillion.

Japan and Germany are in the rankings. The Asian giant ends in the ninth with a GDP of $ 7.2 trillion, while Germany reaches the top 10 for $ 6.9 trillion.

The countries that are currently in the top 10 and are predicted to be out of the rankings are the United Kingdom, Italy, France and Canada.

India predicts that the economy will grow more than 7 percent in the current fiscal year, ending in March, which will be some relief for Prime Minister Narendra Modi, who is looking for a second term for national elections held in May.

Annual economic growth fell to a worse than expected 7.1 percent in the quarter of July-September, from 8.2 percent in the previous quarter, which was slowed by lower consumer spending and farm growth, posing a risk for Modes that have a populist budget to win back voters.

While it is expected that America will follow India and India, Indonesia will take fourth place. The Indonesian capital Jakarta can be seen in the above file photo

While it is expected that America will follow India and India, Indonesia will take fourth place. The Indonesian capital Jakarta can be seen in the above file photo

While it is expected that America will follow India and India, Indonesia will take fourth place. The Indonesian capital Jakarta can be seen in the above file photo

With the fall in global crude oil prices and the strengthening of rupees in recent weeks, the Modi government is planning to support rural demand through higher government spending and a financial package for farmers in the annual budget of February 1 is being presented.

The gross domestic product is estimated at 7.2 percent in 2018/19, faster than a provisional growth of 6.7 percent in 2017/18, the Department of Statistics said in a statement.

It is expected that production will increase by 8.3 percent this year, compared to 5.7 percent in the previous year.

The output of the farm can grow 3.8 percent, an increase of 3.4 percent.

STANDARD CHARTERED & # 39; S TOP 10 ECONOMIES FOR THE YEAR 2030

Country Nominal GDP (in billions)

1. China $ 64.2

2. India $ 46.3

3. United States $ 31

4. Indonesia $ 10.1

5. Turkey $ 9.1

6. Brazil $ 8.6

7. Egypt $ 8.2

8. Russia $ 7.9

9. Japan $ 7.2

10. Germany $ 6.9

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