China, India and the rest of the
developing world will eclipse the west in a dramatic shift in the balance of
economic power over the next 50 years, according to research by the
Organisation for Economic Co-operation and Development (OECD).
The next five decades will see major changes
in country shares
in global output. The Paris-based thinktank's Looking to 2060: Long-Term Global
Growth Prospects report uses a new economic model which forecasts that China
will overtake the eurozone in 2012 and the US
within the next four years to become the largest economy in the world.
India is in the process of overtaking Japan and is forecast to pass the
eurozone in about 20 years.
