Emerging markets will account for more than half of global GDP within the next decade. Headlining this, India is on course to become the world’s third largest economy by 2030. And EMs with rapid population growth, healthy manufacturing sectors or those that stand to benefit from a greening of the global economy will also jump up the GDP league table. The sting in the tail is that, at an aggregate level, income convergence with DMs will be slower than it has been in the past couple of decades.
In view of the wider interest, this Long-Run Update is being made available to clients of our India and Emerging Markets Overview services.
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