"The total economic output of the globe is about 30 trillion dollars. America accounts for 10 trillion, while Europe produces about 8 trillion. China, despite its rapid progress in the last 20 years, has just reached the 1 trillion dollar mark, and poverty stricken India produces less than half a trillion dollars in output. Let us assume that America continues its historical growth rate of about 3.5% per year, while Europe continues at its pace of 2.5% per year, China at 7% and India at 6% for the next 50 years. In 2050, the US economy will be 55 trillion dollars, China 29 trillion, Europe 27 trillion, and India 8 trillion. America will still be far ahead of even China, and at 6% growth, India will remain a second rate economy."