What are the forces moving the Minnesota economy? Adam Belz tries to identify the trends and show the connections between Minnesota and the larger U.S. and global economies. You can connect with him on Twitter: @adambelz
The balance of world economic power will shift heavily to China and India by 2060, but per capita GDP in the United States is so high that even 50 years from now it won’t be challenged.
By 2060, China will account for 28 percent of global GDP and India will account for 18 percent. The United States’s share, which is now 23 percent, will fall to 17 percent, the OECD forecasts.
And yet Chinese GDP per capita will still be only 59 percent of American GDP per capita. It seems to me this points up a fact that’s often lost in the uneven recovery from the Great Recession: Americans are really, really rich.