Year 2050- Emergence of a Trilateral World Economy?

The Global Economy, for the next 40 years is to be carried by the B.R.I.C. countries and Mexico alone. But on a deeper look, we find a stunning fact, an Emergence of a World economy governed majorly by 3 economic mammoths- namely China, United States and India. An article: "The G-20 in 2050" published in the November Bulletin in the Carnegie Endowment for International Peace states that China, U.S. and India will emerge as the three largest Economies of the world.

The fact that this statement has a great amount of truth can be obtained in recent growth-rates of China at 9% per year. It has been estimated that, given present trends as they are, China will emerge as the largest economy in the World by 2032 and grow 20% larger than the U.S. economy till 2050. India will become the 3rd largest Economy in the world by 2050.

Asia is all set to emerge as the carrier of the Global Economic system. Today, 5% of the World Population i.e. the U.S. population accounts for $10 Trillion of global consumption and Asia with 45% of World Population accounts for $7 Trillion of Global consumption. By 2020 Asia will account for $21 Trillion of Global consumption 140% of the U.S. consumption at that time(which will be consuming $15 Trillion).

So, soil is being sown for a fertile 3-sided economy. These three nations would have a profound effect on the Global commercial setup. This surely doesn't mean that other nations would have a lesser role. In terms of Per-Capita Income, Asian countries will continue to be way behind of the developed world. Lets hope to have an Asia that is ahead even in terms of Per-Capita, maybe the beginning has begun.