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The rise of developing Asia and the new economic order

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  • Jorgenson, Dale W.
  • Vu, Khuong M.
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    Abstract

    This paper identifies emerging trends in the world economy during the next decade. The first is that China will overtake the U.S. in terms of gross domestic product (GDP), ending more than a century of U.S. leadership as the world's largest economy. The second is that Developing Asia, excluding Japan, will overtake the G7, a group of the seven largest industrialized economies established in 1975–76. Finally, India will overtake Japan, Russia will overtake Germany, and Brazil will overtake the U.K., leading to a New World Economic Order: China, the U.S., India, Japan, Russia, Germany, and Brazil.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0161893811000585
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Policy Modeling.

    Volume (Year): 33 (2011)
    Issue (Month): 5 (September)
    Pages: 698-716

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    Handle: RePEc:eee:jpolmo:v:33:y:2011:i:5:p:698-716

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    Web page: http://www.elsevier.com/locate/inca/505735

    Related research

    Keywords: Growth Information technology Investment Productivity;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2007. "A retrospective look at the U.S. productivity growth resurgence," Staff Reports 277, Federal Reserve Bank of New York.
    2. Dale W. Jorgenson & J. Steven Landefeld, 2006. "Blueprint for Expanded and Integrated U.S. Accounts: Review, Assessment, and Next Steps," NBER Chapters, in: A New Architecture for the U.S. National Accounts, pages 13-112 National Bureau of Economic Research, Inc.
    3. Jorgenson, Dale W. & Vu, Khuong M., 2010. "Potential growth of the world economy," Journal of Policy Modeling, Elsevier, vol. 32(5), pages 615-631, September.
    4. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," American Economic Review, American Economic Association, vol. 91(1), pages 1-32, March.
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    Cited by:
    1. Voskoboynikov, Ilya B. & Timmer, Marcel, 2013. "Is Mining Fuelling Long-run Growth in Russia? Industry Productivity Growth Trends since 1995," GGDC Research Memorandum GD-137, Groningen Growth and Development Centre, University of Groningen.
    2. Vu, Khuong M., 2013. "Information and Communication Technology (ICT) and Singapore’s economic growth," Information Economics and Policy, Elsevier, vol. 25(4), pages 284-300.

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