In 2010, the analysts at Standard Chartered argued that the huge growth in emerging markets was “driving an economic super-cycle” transition.
Three years later, Standard Chartered’s Stephen Green is out with a new report examining where the world’s major economies are heading over the next few decades.
“We have lowered our forecasts for China, India and others, but the case broadly still holds,” Green writes. In other words, the economic super-cycle lives on. Come 2022, Green predicts that China will surpass the U.S. in terms of GDP (they had previously predicted it would happen in 2020, but still).
“World trade could quadruple in value terms to $US75 trillion by 2030,” Green writes in the report. “Urbanization and the growth of the middle classes, especially in Asia, are driving forces.”
Here’s the chart: