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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.
But they're wrong. Even after decades of expensive rearmament, China is a paper dragon â a version of what Mao Zedong wrongly claimed the United States was â¦ in 1956. China's military budget has grown by double-digits year after year, but inflation has eaten away at the increases.