Europe Seeing Economic Trouble Ahead.....

In 2020, The United States will still dominate the world economy as presented by the President of Deutsche Bank in France.

In 2020, the United States will remain the world superpower, with a total GNP of approximately $17 trillion to $18 trillion. Thanks to its dynamic demographics (1% annual population growth), a productivity and a competitiveness amongst the best in the world (currently second in the world and far out in front of Germany (13th) or France (26th) according to statistics from the World Economic Forum), and thanks also to its constant drive to create and innovate, and with flexibility due to the mobility of its labor force, the United States will maintain a clear advantage over China and India and will widen the gap with Europe. With average per capita salaries of approximately $55,000, the income of the average American in 2020 will be 1.5 to 2 times greater than that of a European; five times higher than that of a Chinese and nine times more than that of an Indian(approximately $6,000 per capita).

China will indisputably be the world’s second greatest economic power, with a GNP of some $14 trillion, or three times higher than today.

However, China will be facing a demographic problem with their aging population which will average about 40 years old in 2020 due to the one-child policy. Europe will be hamstrung by an aging population and rigid social structures. Surprisingly, Ireland will have the second highest per capita GDP in the world.