What a rubbish study!
The study assumes that the US will be spending the same as China in 2045. This will only be the case if the US remains the sole superpower, which it would have lost well before 2045. The US will not be able to afford to spend as much when it probably becomes a less rich and powerful country than China.
Also it somehow thinks that a much wealthier China would not be able to match US technologically by 2045 when it would be equal to it at least. India will be nowhere near as advanced technologically than either China or the US.
I forsee China becoming the most powerful country by a fair margin, then a big gap down to US and then another big gap down to India.
The study assumes that the US will be spending the same as China in 2045. This will only be the case if the US remains the sole superpower, which it would have lost well before 2045. The US will not be able to afford to spend as much when it probably becomes a less rich and powerful country than China.
Also it somehow thinks that a much wealthier China would not be able to match US technologically by 2045 when it would be equal to it at least. India will be nowhere near as advanced technologically than either China or the US.
I forsee China becoming the most powerful country by a fair margin, then a big gap down to US and then another big gap down to India.