By 2050, China and India will dominate the global economy, while African countries will emerge rapidly. According to the latest PwC report, China will become the world’s largest economy with a gross domestic product (GDP) of $42.96 trillion, contributing 20% ​​to global GDP. India will be third with $38.68 trillion, while the United States will be second with $26.58 trillion. The Organisation for Economic Co-operation and Development (OECD) estimates that the African continent will record the fastest economic growth between 2030 and 2050, making countries like Nigeria new hubs of investment.

The global population will surpass 9 billion, increasing energy and food demand by 80% and 50% respectively. Fossil fuels will still account for 85% of energy supply, while renewables will contribute only 10%. China and India will see their labour force shrink due to ageing populations, but these countries will remain ahead due to their policies and large markets. Vietnam, Bangladesh and Poland will also be among the fastest growing economies. Emerging markets will need structural reforms for stability and diversification, which will be the key to long-term growth.