The world’s fastest years of economic growth are likely already behind it — expansion is slowing as population growth weakens, according to Goldman Sachs Research. But emerging economies, and powerhouses in Asia in particular, are forecast to keep catching up to richer countries.
Goldman Sachs Research set out its first long-term projections for the Brazil, Russia, India, and China (BRICs) economies almost 20 years ago and expanded those estimates in 2011 to include more countries. Our economists’ latest version covers 104 nations, and the projections cover a horizon from now to 2075.
Worldwide potential growth (the rate an economy can sustain without producing too much inflation) is forecast to average 2.8% annually between 2024 and 2029 and to gradually decline thereafter, according to Goldman Sachs Research. That compares with an average of…
