The race to the top of the economic food chain has never been more heated. Currently, nations like the US, China, and Russia seem to be the main players that influence world markets. But what will things look like in 2030?
The two heavy hitters in global economics are China and the US, with market values of $23.2 trillion and $19.4 trillion respectively. Today, these bitter rivals engage in frequent exchanges of tariffs that are worth millions. Unfortunately, consumers and small businesses are the ones suffering the consequences.
A country that’s currently on the rise is India. Its GDP of $9.5 trillion ranks third in the world. Within the next ten years, experts predict India’s economy to grow by a whopping 387%! One contributing factor is the nation’s increasing population, which is expected to surpass China’s by 2026. Population growth may be good for India’s economy, but detrimental to our environment’s well-being.
Egypt is hardly on anyone’s list of economic powerhouses, but that should change soon enough. Experts are predicting a 587% growth in the next 10 years for this nation. That means a whopping $7 trillion boost!
Changes are happening all over the globe and new players are taking over the world market. As more countries’ economies develop, cheaper goods and services become available. Hopefully, a little competition can bring some benefits to the most important player in the game- the consumer.