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Follow Business Insider: The lineup of global economic powerhouses is going to see some changes by 2050. China is expected to surpass the US in terms of nominal GDP by 2026 â aka in 11 years, according to The Economist Intelligence Unit. India, the strongest emerging market, is expected jump to third place, with real growth averaging around 5% by 2050. Plus, Indonesia and Mexico will vault up into the top 10.
Since China's transition to a market-based economy through privatisation and deregulation, the country has seen its ranking increase from ninth in 1978 to second to only the United States in 2016 as economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016.