Developing countries to overtake developed ones by 2025
2011-05-18 18:28:42
Developing nations will take over from the developed ones as the main centre for world economic growth by the year 2025, while the US Dollar will lose its dominant position as the world currency. This comes in a conclusion drawn by World Bank analysts.
According to their report, the economies of Russia, China, India, Brazil, Indonesia and South Korea will grow by an average 5% every year, while the developed markets, by a mere 2%.
Economists also forecast that by 2025 the Chinese Yuan will have grown more important internationally than the US Dollar.