World Growth to Decelerate as China Cools, OECD Projection Shows
- The good news: U.S. economy to grow faster than China’s
- The bad news: U.S. share of global GDP to erode to 14%
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Long-run economic scenarios for the world economy show that U.S. GDP growth is expected to surpass that of China in 2040, according to the OECD. By that time, China’s economy will be 77 percent larger in international dollars than that of the U.S.
In 2037, the economies of India and the U.S. are expected to switch order too, as the world’s economic might shifts toward Asia. By 2060, China and India’s share of the of the global economy will be larger than that of all OECD countries combined. If one adds Indonesia, about half of the world’s economy will be represented by the three Asian countries.