WASHINGTON, May 18 – India and China are expected to be the largest investors among developing countries by 2030, with the two Asian giants accounting for 38 per cent of global gross investment, Press Trust of India (PTI) quoted a World Bank report as saying.
According to the latest edition of the World Bank’s Global Development Horizons (GDH) report, by 2030 half the global stock of capital, totalling US$ 158 trillion, will reside in developing world compared to less than one-third on Friday, with countries in East Asia and Latin America accounting for the largest shares of this stock.
Developing countries’ share in global investment is projected to triple by 2030 to three-fifths from one-fifth in 2000, says the report titled ‘Capital for the Future: Saving and Investment in an Interdependent World’.
With world population set to rise from 7 billion in 2010 to 8.5 billion in 2030 and rapid aging in advanced countries, demographic changes will profoundly influence these structural shifts, it said.
“GDH is one of the finest efforts at peering into the distant future. It does this by marshaling an amazing amount of statistical information,” said Kaushik Basu, World Bank’s senior vice president and chief economist.
“We know from the experience of countries as diverse as South Korea, Indonesia, Brazil, Turkey and South Africa the pivotal role investment plays in driving long-term growth,” he said.
-BERNAMA
