In a study released by Goldman Sachs, Pakistan is predicted to become the sixth-largest economy in the world by 2075. The five greatest economies by 2075, according to the article “The Path to 2075” by economists Kevin Daly and Tadas Gedminas, would be China, India, the US, Indonesia, and Nigeria, with Pakistan forecast to take the sixth position if “proper policies and institutions” are in place.
According to the article, Pakistan’s population expansion might make it one of the world’s greatest economies in the next 50 years, contributing to its forecasted future star status.
The study predicts that by 2075, Pakistan’s Real GDP would reach $12.7 trillion and its GDP per person will increase to $27,100.
The main threats to the authors’ estimates are “environmental disaster” and “populist nationalism.”
The study claims that climate change could significantly skew these projections, especially for nations like Pakistan, unless a path to sustainable growth is ensured through a globally coordinated response.
Additionally, it claims that the rise of populist nationalists to power in numerous nations may result in an increase in protectionism, which may potentially reverse globalisation and increase income inequality between nations.
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