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Bloomberg
The 2020s are set to be the Asian decade, with the continent dominating an exclusive list of economies expected to sustain growth rates of around 7%.
India, Bangladesh, Vietnam, Myanmar and the Philippines should all meet that benchmark, according to a research note on Sunday from Madhur Jha, Standard Chartered’s India-based head of thematic research, and Global Chief Economist David Mann. Ethiopia and Côte d’Ivoire are also likely to reach the 7% growth pace, which typically means a doubling of gross domestic product every 10 years. That’ll be a boon to per-capita incomes, with Vietnam’s soaring to $10,400 in 2030 from about $2,500 last year, they estimate.
China is a notable absence from the latest ranking after being a member of the club for almost four decades — reflecting both a slowdown in economic growth and a progression towards higher per-capita incomes that ma-kes faster growth rates more difficult to sustain.