Around the world, emerging economies are taking a bigger share of global purchasing power and traditionally developed economies are having a hard time to keep up.
The biggest nation on Earth, China, is expected to keep its top spot as the country with the largest purchasing power on Earth and is on track to almost triple its purchasing power by 2030, according to an analysis by the British bank Standard Chartered. India is only expected to move up from rank 3 to rank 2 in that time frame but will almost quadruple its purchasing power in the process.
In the case of Japan, the country is expected to lose 5 ranks and emerge as the country with the 9th highest purchasing power worldwide.
Developing economies like Indonesia, Turkey, Brazil and Egypt are set to move into ranks four to seven respectively, toppling the reign of countries like Japan and Germany, which are still growing their purchasing power but at a much slower rate. The U.S. is expected to only drop one rank to position 3 but is grappling with slower growth equally.