New Delhi: India, China and Indonesia will be three of the five economies with the world’s largest working-age populations among G20 countries by 2030.
This highlights the fact that the world might be seeing the economic geography shifting toward Eastern nations, McKinsey said in its Driving Sustainable and Inclusive Growth in G20 Economies report on Saturday.
“The world remains deeply interdependent, and indeed perhaps more so than previously, as digital and data flows fuel exchanges of communication and knowledge,” McKinsey said in its report. “Yet the global economic picture suggests that the world may be at the cusp of a new era. Economic geography has shifted eastward…”
Even as the economic centres are likely to shift in the future, G20 economies currently have wide and varying trends on sustainability and inclusion.
According to the report, debt is now at its highest levels since the end of World War II, with the debt-to-gross domestic product ratio now standing at more than 300% for G20 countries. Inequality within countries-as measured by the gap between the richest 10% and the bottom 50%-has also risen to its highest level since the start of the 20th century, the report said.