Goldman Sachs has just published its “Global Economics Paper: The Path to 2075 — Slower Global Growth, But Convergence Remains Intact” which reveals the organization’s projections on the global economy’s major themes and EM and DM growth to 2075.
According to Goldman Sachs, there are 4 four major themes for the global economy.
Theme #1: Slower global potential growth, led by weaker population growth.
It implies that during the next ten years, global growth will average just under 3% annually and be on a steadily falling path, mostly due to slower labor force expansion. Global population growth has decreased by half during the previous 50 years, from 2% to less than 1% annually, and is anticipated to reach nearly zero by 2075.
Theme #2: The continued convergence of the emerging markets (EM), driven by Asia’s powerhouses.
Although real GDP growth has slowed in both developed and emerging economies, relative to developed market (DM) growth, EM growth is still greater.
Therefore, China, the US, India, Indonesia, and Germany will be the world’s five largest economies in 2050 (measured in real USD) with Indonesia displacing Brazil and Russia among the largest EMs. With the right institutions and policies, Nigeria, Pakistan, and Egypt could be among the largest economies in the world by the year 2075.

Theme #3: The decade of US exceptionalism, which is unlikely to happen again.
Over the previous ten years, the US has performed relatively better than anticipated. However, history indicates that this is not likely to happen again over the following ten years. Large EM economies continue to have higher potential growth than the US, and over the next 10 years, some of the US Dollar’s exceptional strength of the past few years is expected to unwind.
Theme #4: Less global inequality, more local inequality.
Global income distribution is now more evenly distributed as a result of EM convergence during the past 20 years. While wealth disparity between countries has decreased, income inequality within countries has increased. Future globalization faces a significant difficulty as a result of this.

The rise of emerging economies like India and Indonesia in the next 10 to 50 years is arguably one of Goldman Sachs’ most noteworthy projections in this study.
The figures 1 and 2 predict the real US Dollar value of major economies through time combining Goldman Sachs’ GDP projections and long-term real exchange rate projections. These suggest that China will surpass the US economy as the largest economy in the world around 2035. This is roughly ten years later than what Goldman Sachs predicted in 2011, mostly because of the organization’s downward adjustments to Chinese potential growth.
Despite the fact that China’s growth prospects currently appear gloomy, Goldman Sachs also highlighted a number of significant factors that led them to expect China to surpass the US in the near future. Those factors are: First, China’s GDP has already cut the majority of the gap with the US GDP (from 12% of the US GDP in 2000 to just under 80% today). Second, Goldman Sachs’ updated forecasts show that potential growth in China is still much larger than in the US (4.0% vs. 1.9% for 2024–29, shown in the figure 3), despite major downward adjustments. Third, in addition to differences in prospective growth, a portion of the US Dollar’s real overvaluation compared to the Chinese Yuan is anticipated to be unwound over the next 10 to 15 years.

Goldman Sachs also projects China, the United States, India, Indonesia, and Germany are predicted to be the five largest economies in the world in 2050. Indonesia has an impressive jump in this list when displacing Brazil and Russia among the list of largest EMs over this horizon.
The US, China, and India are expected to be the three largest economies in the world in 2075, with India overtaking the US. Due to its better demographic outlook, US potential GDP growth is predicted to be significantly faster than China’s at that horizon. With the appropriate policies and institutions, economies like Nigeria, Pakistan, and Egypt could grow to be some of the largest in the world as a result of high population increase in these countries.
Subway, the world’s largest sandwich chain, is set to embark on a massive expansion plan in China, opening nearly 4,000 new stores in the country. This move will significantly increase Subway’s footprint in China, expanding it by more than seven times its current size.
The Michelin Guide, which began as a humble travel companion for motorists, has evolved into an iconic gastronomic authority. It continues to provide valuable recommendations and celebrate culinary excellence worldwide. The guide’s rigorous assessment criteria, dedicated inspectors, and unwavering commitment to quality and reliability have solidified its status as an indispensable resource for food enthusiasts and travelers alike. Let’s delve into the fascinating story behind the guide’s inception and explore the meticulous process that determines the coveted Michelin stars.
The culinary scene in Vietnam has reached new heights with the unveiling of the inaugural MICHELIN Guide Hanoi & Ho Chi Minh City. A total of 103 exceptional restaurants have been recognized for their outstanding cuisine, including four coveted MICHELIN Stars.
Microsoft has agreed to pay $20 million to settle charges brought against it by the U.S. Federal Trade Commission (FTC) for violating children’s privacy rights. The FTC accused the tech giant of illegally collecting personal information from children without parental consent through its Xbox gaming system.
Grab, the Singapore-based technology company, has come under scrutiny in Vietnam due to its financial practices. Recent revelations regarding substantial losses, unpaid taxes, and questionable financial transactions have raised concerns about Grab Vietnam’s operations and their impact on the Vietnamese economy.
According to Lonely Planet, Vietnam The Reunification Express is the most spectacular train journey in the world. Check out the link below to discover the whole list of Lonely Planet’s top rail excursions from around the world which gives you a unique perspective on various destinations.
By Rotation, a U.K.-based clothing rental app, is on a mission to combat the harmful effects of fast fashion by promoting peer-to-peer clothing rental as a mainstream practice in the United States. The startup recently expanded its services to the U.S. market and aims to establish a strong presence in New York City before expanding to other major cities next year.
In a turn of events for the crypto market, Bitcoin experienced a decline on Wednesday, marking its first down month of the year. The optimism that had fueled a rally surrounding the debt ceiling began to fizzle, causing the leading cryptocurrency to lose 2.77% and trade at $27,057.81, according to Coin Metrics. Ether, the second-largest cryptocurrency by market capitalization, also slipped 2.2% to $1,865.82.
The renowned chipmaker Nvidia has reached a significant milestone in its history by achieving a market capitalization of $1 trillion. This accomplishment places Nvidia in an elite group of companies on Wall Street, becoming only the ninth globally and the sixth currently holding such a distinction.
Codeword, a leading tech-marketing agency, has made history by hiring the world’s first AI interns. Aiden and Aiko, the AI interns, have been brought on board for a three-month trial internship, where they will work alongside Codeword’s team of 106 people. Aiko will be part of the design team, while Aiden will work with the editorial team.
-
Cultural differences between the East and the West
-
Vietnam received recognition in the 29th World Travel Awards in numerous categories
-
Vietnamese dishes that fascinate foreigners
-
First NFT vending machine in the world is now operational in New York
-
The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
-
19 DeFi Startups To Watch

Unmasking Instagram’s Algorithmic Network of Pedophiles: Safeguarding the Vulnerable

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Unmasking Instagram’s Algorithmic Network of Pedophiles: Safeguarding the Vulnerable

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

Cultural differences between the East and the West

The Michelin Guide: Honoring Culinary Excellence and Unveiling Hidden Gems

MICHELIN Guide 2023 Unveils 103 Culinary Delights in Hanoi and Ho Chi Minh City

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

Vietnamese E-Wallets Lead the Way: Embracing a Cashless Future

Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

Talks with Leaders, Special episode: Blockchain meets Metaverse, featuring business leaders, investors, tech experts and global influencers

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Subway’s Massive Expansion: Plans to Open 4,000 Stores in China Signal Major Growth

Valentino Joins the Metaverse: An Exciting Partnership with UNXD

Bitcoin’s First Losing Month of the Year: Cryptocurrency Falls Ahead of Debt Ceiling Vote

Bitcoin’s First Losing Month of the Year: Cryptocurrency Falls Ahead of Debt Ceiling Vote

The Reunification Express in Vietnam Tops the List of Spectacular Train Journeys

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

Codeword Breaks New Ground: Introducing the World’s First AI Interns

The Michelin Guide: Honoring Culinary Excellence and Unveiling Hidden Gems

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

Cultural differences between the East and the West

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental
