By Beth Main.
A new US governmental report suggests that the Asian economies will grow more than previously expected and by 2030 will dwarf the combined power of the US and Europe. China will have the world’s largest economy but Asia as a whole is expected to lead on GDP, population, military spending and technological investment.
The report, Global Trends 2030, published every four years by the US National Intelligence Council (NIC) suggests that within two decades China will overtake the US as the world’s largest economy.
However the report does not predict that China will fill the political role of America, that of world police, forging alliances and tackling international issues. A super economy does not a super power make.
As Asia rises, the West will fall behind as developed countries face slower economic growth and falling living standards for an ageing population.
The report, which focuses on global ‘megatrends’, also identifies ageing societies, a growing middle class, and diminishing natural resources, as key global themes.