Vietnam to be among top 50 economies by 2050: HSBC

January 17, 2012 | 09:03

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HSBC predicts that Vietnam will be among the top 50 economies within the next few decades as many other emerging markets are set to take the lead in the global economy.

“Vietnam, like many of its rapidly growing neighbors, will see strong economic expansion during the next 40 years, with annual GDP growth expected to top 5 per cent,” the Business Insider cited HSBC as saying. The bank predicted the size of the economy will expand to $451 billion by 2050.

According to the Business Insider, HSBC ranked Vietnam at 41, one place higher than Singapore.

The bank expects China to surpass the US as the world's biggest economy by 2050, with India following right behind at number 3.

HSBC said of the top 30 economies by GDP, 19 will be countries currently described as emerging.

Indonesia, Malaysia and Thailand have been ranked 16^th, 20^th and 22^nd, respectively. HSBC said as their education and policy systems develop, these economies will make substantial strides up the global economic ladder.

Thanhniennews/VOV Online

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