By Jaya Ramachandran
IDN-InDepth NewsAnalysis
PARIS (IDN) – The economies of China and India are poised to outshine those of the United States and Western Europe over the next half century, though an overwhelming majority of the Chinese and Indians are unlikely to attain the living standards of citizens in the rich industrial countries, predicts a new study.
Titled Looking to 2060: A Global Vision of Long-term Growth, the report expects the United States to cede its place as the world’s largest economy to China, as early as 2016. India’s GDP (Gross Domestic Product) is also projected to exceed that of the U.S. over the long term.