G7 Vs E7 by PWC

Gross Domestic Product of the major emerging economies of the world (E7) will surpass that of the G7 by 2020, with the help of China, which will become the first economic power in the world ahead of the USA, is predicted by the control and advisory firm of PricewaterhouseCoopers (PwC) . “The driving force of the E7 countries is the rapid growth of China. Although we expect that the growth of the Chinese economy will slow over the next twenty years, China will overtake the U.S. and will become the largest economy in the world around 2020, “explains PwC, in a study that was published earlier this week.

The weight of the E7 countries (China, India, Brazil, Russia, Mexico, Indonesia and Turkey) in the global economy will surpass by 2020 the countries of the G7 (U.S., Japan, Germany, France, Britain, Italy and Canada).

The PwC notes that in 2000 the GDP of the G7 was double that of E7. But the last decade was marked by great growth in emerging countries compared with developed, which further accelerated the crisis. The difference between G7 and E7 is expected to fall 35% this year to disappear completely by the end of the decade, according to the calculations of PricewaterhouseCoopers. This trend is expected to continue over the next decade, which means that by 2030 the ranking of the ten largest economies in the world will read as follows: China, USA, India, Japan, Brazil, Russia, Germany, Mexico, France and Britain concludes PricewaterhouseCoopers.