US + China + India > 50% economic growth

Manufacturing News, Source : The Manufacturer US
Published : 31 Mar 2006 22:50

By 2020, the combined forces of the United States, China and India will account for more than 50 percent of all new economic growth, according to a just-issued Economist Intelligence Unit (EIU) report.

Among EIU’s predictions:

• Globalization of companies will increase, and there will be sizeable growth in global economic output, but only 15 percent increase in the work force.

• China's economy will be on par with the United States by 2020, and will have the second largest consumer market and the largest tech sector.

• Asia's overall share of the global economy will rise to 43 percent from its current 35 percent.

• India will contribute 30 percent, or 142 million, of the new workers entering the global work force.

• The US will contribute 12. 5 million new workers, and the overwhelming majority of new jobs will be in the service industry.

The EIU report was sponsored by Cisco Systems.

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