Asia powers global growth – Standard Chartered

Analysts at Standard Chartered suggest that global growth in recent years has been weaker than their 2010 projections, leading them to lower their 2010-30 annual growth forecast to 3.1% from 3.5%.

Key Quotes

“While Asian economies’ performance has been robust, other regions have disappointed.”

“We continue to expect Asia, led by China, to power global growth. Seven of the top 10 economies in 2030 (in PPP terms) will likely be current emerging markets. We estimate that India and Indonesia will join China in the top five.”

“Productivity growth is a key differentiator across economies. Weak productivity growth in some economies seems to be linked to slowing reform momentum since the global financial crisis.”

“The share of the urban population in developing countries will double by 2030 and along with a rising middle class will support global growth, in our view.”