Make a few projections about where you see the global economy headed in 2035. Wi

Question

Make a few projections about where you see the global economy headed in 2035. Will there be greater concern for poor nations? Will the US and China hold their positions of dominance, along with the EU (non militarily). Is Africa the Next big thing? Or you could predict for 2025, or even 2015. The point is to use your knowledge of the reading you are doing to come up with some important trends, and, I hope, trends that will stimulate some discussion.

Don't try to take all of these on, pick an agency (IMF, WTO, WHO) or trend or "economic vector-- say "carbon-- or nuclear fuels" and note where that might be headed. Are their any contenders for economic greatness who are below the radar now? 20 years ago, 1995, China was certainly a country on the move, but--check it out-- it was only a "FUTURE" economic superpower. Nobody predicted that it could sustain its growth rate as it has and fan out into Africa and Latin America, the least likely of targets for it.

Explanation / Answer

I believe that the global economy will go through or witness a lot of changes in the future because there are a lot of countries who are actually growing an possess potential to do good. There are quite some third world countries who are actually making their way up in the radar because they have started using their strengths in the right way and taken up the opportunities. If we look at China we will see that 20 years back they also belonged to the weaker economy but gradually they started using their strengths which is manpower, skilled labor at a low cost and ideas of innovation and this has helped the country to go up and we can actually witness where it belongs today. Countries like India, Ethiopia, Cote d'Ivoire like, etc are featuring in the fastest growing economy list. They are growing because they have been able to recognize the potential they possess and use it accordingly for the betterment of the nation and by 2035 they may compete with the Giants like China or USA. There are also some nation's who will continue being below the radar because of a proper plan and working strategy towards the growth.

Inspite of such growth I believe that China and USA will continue as the giants because their future plan is set and there is almost no way stopping them. They have been the largest for quite some decades now and actually shifting them will be tough at this point of time because they rely hugely on primary industries which is the product based industry and the growing countries mostly rely on service based industry and they are dependent quite a lot in China and USA. Multinational organizations of USA are actually using the service of these growing economies to fulfill their objectives because they get the services at a low cost and because of this the other country also can grow. Africa has been the most benefitting continent because if we look at the list we will see that there are so many countries who are growing at a very fast pace because they know what they need to do in order to be successful. The International Monetary Fund (IMF) also are assisting the countries in their ventures so that they can grow and do big. There has been so many situations in which the IMF has played a major role in shaping the future of the countries.

It is true that we cannot predict the future but we can forecast to some extent and the forecast states that economies will come up and that too very fast in the industry and pose tough competition to the players who are already established.

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