Top economies of the world in 2020
Analysts predict that, by the year 2020, there will be a great change in the worldwide economic power. Emerging market economies will become the most powerful forces and China will become at the top of the world economies with respect to gross domestic product (GDP).
As of 2010, some of the top economies are United States of America, China, Japan, Germany, Russia, United Kingdom, France, Brazil and Italy. If we talk about these top 10 countries these are developed countries from Western World. China, Russia, India and Brazil are the emerging market economies.
Top economies of 2020
According to the anticipated Gross Domestic Product (GDP), in terms of Purchasing Power Parity (PPP), the top economies will be:
In addition, The International Monetary Fund (IMF) predicts that advanced economies will experience a growth of less than 3% in 2020. Advanced economies are also facing challenges in terms of public debt reduction and government budget deficits. The IMF also forecasts that growth of Asian economies will be significantly higher, at approximately 9.5%. As of 2010, the growth of these Asian economies is one of the factors driving the worldwide economic recovery.