The Future is Asian: The Asian share of global GDP has risen from 35% to 44%, and is likely to exceed 50% by 2030

[beijingwalker]

The Future is Asian: The Asian share of global GDP has risen from 35% to 44%, and is likely to exceed 50% by 2030​

15 April 2022
https://www.worldeconomics.com/DownloadCenter/
The world economy has radically changed over the past decade. The Asian share of global GDP has risen from 35% to 44%, and is likely to exceed 50% by 2030.

Today, the Asian share of global GDP is over 44%, whereas Europe and North America combined now account for a lot less: about 37%. An extraordinary change in a remarkably short space of time. Clearly mostly a result of the furious growth seen in China and India over the period, but mirrored by rapid growth in many other Asian nations.

If GDP growth differentials between the continents continue at anything like the rate established between 2010 and 2020, Asian GDP is likely to account for over half of global GDP by 2030. Evidence on current economic growth is less certain that usual, with the Covid pandemic, followed by the Russian invasion of Ukraine making a mess of economic trend data. There is evidence that the great growth engines of the past decade - the Chinese and Indian economies - have slowed down. However few economists believe that the difference in growth rates seen in the years prior to Covid, between the emerging economies of Asia, and the developed western markets, will disappear, particularly in view of the current political problems of America, and the uncertainty released by the vicious war launched in Europe by Russia’s invasion of the Ukraine.

In summary, on trends visible to date, the rise of Asia is unlikely to halt anytime soon.

Living in China's Shadow​

Why China will dwarf the US in 8 years time​

Chinese GDP will be more than double that of the US in under a decade, if recent growth rates persist. Economic activity in China is almost certainly already 28% larger than in the USA.

Few investment portfolios, business plans or government calculations reflect the large and growing dominance of Chinese economic activity, mostly because of the inappropriate use of market prices to assess the relative size of economic activity, the omission of key data on the shadow economy, and calculating GDP from outdated base years. See more data...

World Economics | Economic data for the benefit of investors

World Economics provides better measures for critical geographic asset allocation decisions.

www.worldeconomics.com

 

[Hamartia Antidote]

According to the above chart I see
Europe: 17%
North America: 13%

Europe and North America currently make up 30%

7 Continents of the World - Worldometer

What are the 7 Continents of the World? Map and complete list with population, land area, population density, and share of world population

www.worldometers.info

List of the seven continents​

Ranked by current population

but Europe and North America only have 17% of the population

 

[MultaniGuy]

Lets hope so.

Now the West has become arrogant now.

 

[Abid123]

Asia is by far the most powerful continent. No continent even comes close Asia in terms of military, economy or technology.

 

[FuturePAF]

Western Asia needs to fully industrialize for them to have more of a voice in global affairs. Considering only Kuwait voted to condemn Russia’s war on Ukraine, the region is primed to join BRI and diversify from being wholly dependent on the west. With an Africa growing rapidly in population, industrialize output could easily be absorbed in that direction if the process is well managed.

 

[Wergeland]

According to the above chart I see
Europe: 17%
North America: 13%

Europe and North America currently make up 30%

7 Continents of the World - Worldometer

What are the 7 Continents of the World? Map and complete list with population, land area, population density, and share of world population

www.worldometers.info

List of the seven continents​

Ranked by current population

View attachment 834999

but Europe and North America only have 17% of the population

Its no doubt what the West has achieved the past 200 years is incredible. 500 years ago nobody would imagine a relative sparsely populated area on the western edge of the Eurasian landsmass, go around and conqor almost all of the world the next 300 years. Becoming as dominant and inventive as it has been and still is.

The west has changed the world forever.

 

[American Pakistani]

Asia is an example of diversity. Beautiful continent with beautiful people and rich culture and history with zero competition. Similarly the geography is unimaginable with land rich of natural resources.

 

[FairAndUnbiased]

Asia is by far the most powerful continent. No continent even comes close Asia in terms of military, economy or technology.

it does not help when many are still colonial sepoys of certain foreign powers even long after the demise of the British Empire.