Thailand as 23rd largest economy in 2050

 The report found that 19 of the top 30 economies will be countries that are currently ‘emerging’ and China and India will be powering global growth over the next four decades while countries as varied as Nigeria, Peru and the Philippines will also be playing a significant part.
 The ranking is based on an economy’s current level of development and the factors that will determine
whether it has the potential to catch up with more developed nations. These fundamentals include current
income per capita, rule of law, democracy, education levels and demographic change. In completing the report, HSBC assumes that policymakers will continue to make progress in addressing economic flaws and that they avoid wars and remain open to global trade and capital.
 The report found that the Philippinesis set to become the world’s sixteenth-largest economy, up 27
places from today. Peru could sustain average growth of 5.5 per cent for four decades and jump 20 places to twenty-sixth.
 The report concluded that the West is not getting poorer, but high levels of income per capita and weak demographics will limit growth. It is the small-population, ageing economies in Europe that are the big relative losers, seeing the biggest moves down the table.
 The world would also face a massive demographic change: in 2050 there will be almost as many people in Nigeria as in the United States, and Ethiopia will have twice as many people as projected in the UK or Germany. The population of many African countries will double. Pakistan will have the sixth-largest population in the world. Even if
some of these countries remain relatively poor on a per-capita basis, they could see a dramatic increase in
the size of their economies thanks to population growth.
 By contrast, the Japanese working population looks set to contract by 37 per cent and the Russian one by 31 per cent. The eurozone faces similar problems with working population declines of 29 per cent in Germany, 24 per cent in Portugal, 23 per cent in Italy and 11 per cent in Spain, adding a whole new perspective to the sovereign debt crisis.
 Notably, Pakistan makes it into the top 30 league bcause of population size.
 It is not just about population as Ukraine is set to jump 19 places to fortieth because of its education system and rule of law, even though its population is set to fall to 36 million from 45 million.
 Among the top 100, 26 are identified as fast-growth countries. They share a very low level of development but have made great progress in improving fundamentals. As they open themselves to the technology available elsewhere, they should enjoy many years of ‘copy and paste’ growth ahead. Besides China, India, the Philippines and
Malaysia, this category includes Bangladesh, the central Asian countries of Uzbekistan, Kazakhstan and
Turkmenistan, Peru and Ecuador in Latin America, and Egypt and Jordan in the Middle East.
 The growth category extends to 43 countries. It includes 11 Latin American countries such as Brazil,
Argentina, Chile, El Salvador, Costa Rica and the Dominican Republic; Turkey, Romania and the Czech
Republic in central and eastern Europe; as well as the war-ravaged Iraq and Yemen. Africa will finally start to emerge from economic obscurity. Five of our fast-growth countries come from Sub-Saharan Africa and three are in the growth category.