Risk is a pervasive factor in agriculture and a subject of great interest to agricultural economists. However, there is a lack of comprehensive understanding of the knowledge held by farm advisors, students, and economists...
- The diffusion of power among countries and from countries to informal networks will have a dramatic impact by 2030, largely reversing the historic rise of the West since 1750 and increasing Asia’s weight in the global economy and world politics.
- By 2040, the economic power of E7 (China, India, Indonesia, Brazil, Russia, Mexico and Turkey) could be double the size of that of G7 (USA, UK, France, Germany, Japan, Canada, and Italy), from being the same size in 2015 and half the size in 1995.
| Related Megatrends: Governance; Demography; Consumerism - By 2030, no country will be a hegemonic power —nor the USA, China, nor any other large country. Enabled by communications technologies, power almost certainly will shift more toward multifaceted and amorphous networks composed of state and non-state actors that will form to influence global policies on various issues.
- By 2030, Asia might surpass North America and Europe combined in terms of global power, given its higher rate of economic growth, larger population, increasing military spending, and growing technological investment. China alone will probably have the largest economy, surpassing that of the United States a few years before 2030. Meanwhile, the economies of Europe, Japan, and Russia are likely to continue their slow relative declines.
| Related Megatrends: Governance; Security - The economies of other non-Western states such as Colombia, Egypt, Indonesia, Iran, South Africa, Mexico, Turkey, and others that are middle tier today could rise by 2030. Individually, most of these countries will remain second-order players because of the power of China and India. However, as a collective group, they will begin to surpass Europe, Japan, and Russia in terms of global power by 2030.
- The “Next Eleven” (Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, The Philippines, South Korea, Turkey, and Vietnam) are projected to collectively overtake the EU-27 in global power by 2030. Combined with the growing influence of China and India, this intensifies the impact of geopower shift, as it might be reflected in the regional power transitions that will be ongoing by 2030—some of the more dynamic occurring outside of Asia, where China and India are already consolidating their regional positions.
| Related Megatrends: Governance; Security - Emerging Market and Developing Economies (EMDE) enjoyed good growth over the last two decades. Their short-term growth rate is around 4%, while that of the advanced economies is less than 2%.
| Related Megatrends: Demography; Consumerism - In 2018, the share of world GDP (PPP) of the G7 countries decreased to just under 30%, while that of emerging markets and developing economis reached 60%, a trend that is expected to continue. China's share alone reached almost 20%, while that of the USA was 15% and that of the EU 16%.
- By 2030, the middle class is expected to grow by 150% (to 2 billion people) in the BRIC countries and by 116% (to 730 million people) in the N-11 countries.
| Related Megatrends: Consumerism - The China International Development Cooperation Agency (CIDCA) established in 2018 to oversee China's increasing foreign aid and investment activities launched the China-Africa Cooperation Action Plan (2019-2021) that includes multi-billion dollars projects covering all spheres -- from agriculture and food safety to IT, infrastructure and social development cooperation.
- Chinese state-to-state finance is the highest sovereign lending in the LAC region, surpassing that of the World Bank or the Inter-American Development Bank. China Development Bank and China Eximbank have provided over $140 billion in finance to LAC between 2005 and 2018.
| Related Megatrends: Governance; Security - By 2050, EU's share of global GDP might decrease to 9% (from 16% in 2018).
| Related Megatrends: Demography; Consumerism - By 2030, Germany will likely remain the leader of the EU countries because of its economic growth prospects, but will be challenged by an ageing population.
| Related Megarends: Technology; Demography
Originally Published | Last Updated | 12 Dec 2018 | 13 Feb 2020 |
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