Market Watch: U.S. Economy could Slip from Top Spot in 2020 and Keep Slipping, Analysts Say
Article by Shawn Langlois in Wall Street Journal Market Watch
America’s days as the world’s most powerful economy are numbered, and when that torch is finally passed, it’ll be tough to get back, according to a recent report.
Standard Chartered bank predicts that China’s GDP will overtake the U.S. next year. What’s more, within another decade, India is pegged to push the U.S. even further down the list:
“The global middle class is at a tipping point,” writes Standard Chartered researcher Madhur Jha in the report. “By 2020, a majority of the world population will be classified as middle class. Asia will lead the increase in middle-class populations even as middle classes stagnate in the West.”
While the shake-up has been a long time coming, the hand-off could actually take place under Trump’s watch.
The Visual Capitalist followed up with a graphic for some added color on how the reshaping of the status quo will look over the next dozen years:
Meanwhile, with the U.S. government still on pause, the fate of Brexit hanging in the balance and volatility dogging global markets, investors have to be feeling pretty edgy heading into the week. That mood is reflected in markets early.
To read this article in Wall Street Journal Market Watch in its entirety, click here.