Citigroup: US will be 3rd-largest economy by 2050

[ChromeFoundry]

China will be on top by 2020, then India 30 years later, a Citigroup economist predicts.

Fri, Feb 25, 2011 1:36 PM

et used to it. The United States isn't going to have the world's largest economy much longer.

China's will be tops by 2020. But China won't be there all that long either, according to Citigroup global chief economist Willem Buiter. India will have the biggest economy by 2050, he predicts.

Both countries are the world's fastest-growing economies. China predicts its economic growth will be 9% this year, BusinessWeek reports, while India's could hit 9.25%. The growth in India is so fast that officials are trying to figure out how to curb 9.4% inflation.

There's good news in this, Buiter wrote in a research report this week. The world, as CNBC noted today, is going to become richer and richer as developing economies play catch-up in coming years.

Much more: http://money.msn.com/how-to-invest/dispatch.aspx?post=7b5c156c-f0eb-4c70-b3db-9619ce096ec8>1=33014

[PBS Poll-435]

1. I wouldn't trust CitiGroup on a bar bet.

What is with these assholes?

(Oh and I love the doom & gloom effect on CPI and gasoline! Nice Touch!)

[leftstreet]

2. I thought Wall Street was the worlds largest economy n/t

[Davis_X_Machina]

3. Why in God's name would this be bad?

When it happens -- and demographics guarantees it, so the source is irrelevant -- this happens as a result of some of the most impoverished people in the world having their lives improved, from desperate to grim. How can be accounted a bad thing?

It's not how big the US economy is compared to other economies, it's how it divides up its burdens and its rewards that counts.

In any event, catch-up growth is always faster, and more impressive. That was the economic history of the US 1850-1900 in a nutshell. Or the arc of Brazil in the last twenty years.

[leftstreet]

5. +1

[somone]

4. An economic prediction for 40 years out, by economists

Yeah, you can take that to Citybank :sarcasm:

[PoliticAverse]

6. I predict Citigroup will be requiring another taxpayer bailout... n/t

[PBS Poll-435]

8. No shit. One of my first thoughts too.

And a deferral on their electrical bill.

[RUMMYisFROSTED]

7. Jamie Dimon is 94.

Last words: "Did it!"

[arbusto_baboso]

9. Thanks, of course, to the double dealing of corporations like CitiGroup.

Quit grousing, you whining fucking business assholes; YOU are responsible for this!

[rpannier]

10. That was my first thought

Thanks to CitiGroup and other financial organizations

[Johonny]

12. CitiGroup "US won't be world biggest economy"

and I helped

[DJ13]

11. This tells me nothing more than Wall St intends to continue promoting outsourcing

Outside of that the investment banks are notoriously bad at forecasting future economics.