The share of the USA, Europe and Canada in the world GDP will fall below 50%

The share of the United States, Europe and Canada in the world GDP will fall below 50% this year and will be 49.4% due to recession in developed countries and the expansion of China and other developing countries, Bloomberg reports with reference to the study of Centre for Economics and Business Research (CEBR).

For a decade - from 1995 to 2004, the share of these countries in the global GDP ranged in a fairly narrow corridor between 60% and 64%. The company predicts a decrease in the political influence of governments that determined the rules of the game in world finances after the Second World War. Such countries as China, Brazil and others dynamically developing in recent years will come to the fore.

The head of the CEBR Douglas Mack Williams said that a decrease in the share of the USA, Canada and Europe below the level of 50% was expected, although the company did not expect that this would happen so soon. Earlier, CEBR predicted overcoming this line only by 2015. Now the forecast for 2012 is 45%. “The West will have to get used to the fact that they are no longer able to dominate the world economy, and the situation will not always develop as they would like to,” said Mack Williams.

Changes in the alignment of forces in the global economy have already been reflected in the political sphere. “The big twenty is more and more overshadowed by the“ seven ”and“ eight ”as a key decision -making site. China became the third largest economy in the world in 2007, overtaking Germany in the size of GDP. In September, China became the largest foreign investor in the United States. The share of China, Russia, Brazil and India accounts for 42% of world gold and foreign exchange reserves.