Asia is forecast to reach ~50% of global GDP by 2040 and ~40% of global consumption (McKinsey & Co). As a historian, you can see share of GDP is simply returning to ancient norms with the rise of Asia (notwithstanding the significant margin of error with an analysis like this).
Even compared with the Roman era, the European share only peaks during the modern colonial period through to the end of WW2. The war broke the old European imperial business models of restrictive supply chains - invading countries and plundering natural resources and goods.
The USA introduced a new business model, of free trade and open markets, selling products across the world and achieving a unique technological, economic and cultural domination that continues through to today.
#globalization #macroeconomics #Markets
China adopted the business model of export manufacturing, becoming "the world's factory";
India adopted outsourcing, although is still a shadow of its former self...!!
@StocksNerd @Stockstudy8 @StocksResearch @Atulsingh_Asan @preeti112019 @Neha_trade @investeek @sainathsaii01
@StocksNerd @Stockstudy8 @StocksResearch @Atulsingh_Asan @preeti112019 @Neha_trade @investeek @sainathsaii01 The decline of Western Europe is real..!!
#macroeconomics
#globalization
#Europe #China #USA
#EmergingMarkets
#globaleconomy
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