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

The Group of Seven economies will be surpassed in size by the largest emerging markets in just over two decades as the financial crisis accelerates the shift of power in the global economy, PricewaterhouseCoopers LLP said.

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, the company 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.