In the next 4o years, the two largest emerging economies China & India will overtake the US as the number one & number two economies, respectively. China should over-take the US by 2020 & India by 2050.
Willem Buiter, chief economist at Citigroup, was quoted in a CNBC article as saying,We expect strong growth in the world economy until 2050, with average real GDP growth rates of 4.6 percent per annum until 2030 and 3.8 percent per annum between 2030 and 2050.
This once again adds further fuel to the pressure these economies will make on precious metals for the next 40 years. Buiter also noted this will not all be a smooth transition, Expect booms and busts. Occasionally, there will be growth disasters, driven by poor policy, conflicts, or natural disasters.
When there is this type of change domestically & globally the smart investor acquires gold & silver to insure wealth preservation. A diversified portfolio in physical gold & silver is key to providing this much needed protection. To see more on Buiter’s report: CNBC – US vs China, US Will be the Worlds 3rd Largest Economy: Citi