Goldman Sachs projects the South American country that could be a world power in 2050

The projections of the Goldman Sachs company on the countries that could make up the top world powers for 2050 and 2075 include South American nations, taking into account various factors that affect the comprehensive development of communities, such as the investment that governments make in the economy, education, services, medical care, security and defense.

According to the Global Economy report published at the beginning of 2023, carried out by the leading firm in the area of ​​investment banking, and called “The road to 2075: size and opportunities of the capital market”, South America is a region of great potential, and Brazil (Colombia, Argentina and Peru are not overlooked) would occupy eighth place in the top ten along with the United States.

 

“The empire of a nation as an emerging market is consolidated from the purchasing power capitalized in the privatization of corporate assets,” the report states. In this sense, there is a South American nation that is currently positioned as a potential world power on a list of 104 countries until the year 2050 and also 2075.

Goldman Sachs concluded that “the power of the planet will be in the hands of 3 recognized giants in terms of the nominal Gross Domestic Product (GDP) of each one, while Brazil stands within the Top 10 along with the United States as the state of the subregion. which will grow considerably with a total of $8.7 billion.”

It shows that the country will be ranked eighth on the list and will also maintain that same position 25 years later. It will maintain its leadership “for 2050, 2050 and 2075, along with others that would be added as pleasant surprises as an emerging market.”

Brazil among the main economic powers in the world towards 2050 and 2075

The Goldman Sachs study prepared on June 8, 2023, includes data on countries that “universally would be world powers in the next almost 30 years, taking into account various factors such as potential GDP growth.”

Above Brazil, China would be in first place by both 2050 and 2075. The remaining eight nations would be:

Top Ten towards 2050

1- China

2- United States

3- India

4- Indonesia

5- Germany

6- Japan

7- United Kingdom

8- Brazil

9- France

10- Russia

Top Ten around 2075

1- China

2- India

3- United States

4- Indonesia

5- Nigeria

6- Pakistan

7- Egypt

8- Brazil

9- Germany

10- United Kingdom

The top five will be the world’s largest economies in 2050 as they “combine our GDP estimates with our long-term real exchange rate projections to project the real value of the US dollar for major economies over time.”

Among the criteria considered by Goldman Sachs for a nation like those listed above are “political leadership, economic growth, military strength, alliances with other nations and global influence that includes the ability to exercise authority and dominance over the rest of the territories.”

Given that the projections of the leading firm in the investment banking sector are long-term, which may raise doubts, it is appropriate to highlight that this is, as the firm indicates, an analytical work that “inevitably involves a considerable degree of risk and uncertainty”, where one of the advantages offered “is related to cyclical risk which, as an important source of short-term forecast errors, tends to reverse over time.”

M.Pino

Source: elcomercio.pe

(Main reference image: Raphael Nogueira in Unsplash)

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