Report predicts 32 most powerful economies of the world by 2050

PanARMENIAN.Net - A new report from professional services giant PwC looks at which economies around the world will be the biggest and most powerful by 2050.

The report, titled "The long view: how will the global economic order change by 2050?" ranked 32 countries by their projected global gross domestic product by purchasing power parity (PPP), The Independent reports.

PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period.

With the exception of the U.S., many of the world's current powerhouse economies like Japan and Germany will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets.

Below is the ranking provided by PwC (All numbers cited in the slides are in U.S. dollars; for reference, the U.S.'s current PPP is $18.562 trillion):

32. Netherlands — $1.496 trillion.

31. Colombia — $2.074 trillion.

30. Poland — $2.103 trillion.

29. Argentina — $2.365 trillion.

28. Australia — $2.564 trillion.

27. South Africa — $2.570 trillion.

26. Spain — $2.732 trillion.

25. Thailand — $2.782 trillion.

24. Malaysia — $2.815 trillion.

23. Bangladesh — $3.064 trillion.

22. Canada — $3.1 trillion.

21. Italy — $3.115 trillion.

20. Vietnam — $3.176 trillion.

19. Philippines — $3.334 trillion.

18. South Korea — $3.539 trillion.

17. Iran — $3.900 trillion.

16. Pakistan — $4.236 trillion.

15. Egypt — $4.333 trillion.

14. Nigeria — $4.348 trillion.

13. Saudi Arabia — $4.694 trillion.

12. France — $4.705 trillion.

11. Turkey — $5.184 trillion.

10. United Kingdom — $5.369 trillion.

9. Germany — $6.138 trillion.

8. Japan — $6.779 trillion.

7. Mexico — $6.863 trillion.

6. Russia — $7.131 trillion.

5. Brazil — $7.540 trillion.

4. Indonesia — $10.502 trillion.

3. United States — $34.102 trillion.

2. India — $44.128 trillion.

1. China — $58.499 trillion.