US report suggests Pakistan will become 23rd biggest economy by 2040
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The US intelligence agency “Global Trends” has reported in its 7th edition that Pakistan is all set to become the world’s 23rd largest economy by 2040.
According to the US report, the country currently sits at the 39th position, meaning that it will move 16 places by the next to decades.
The forecast’s structural factors include economic, environmental, technological, and demographic indicators that impact societies worldwide.
As per the report, the most certain trends during the next 20 years will be major demographic shifts as global population growth slows and the world rapidly ages.
Some developed and emerging economies, including in Europe and East Asia, will grow older faster and face decreasing populations, estimating economic growth.
The report also talks about “likely changes in maximum temperature, dryness, and storm/hurricane activity in 2040—compared to the 1980-2005 baseline.”
The US report also suggested that the northern part of Punjab and some of KPK is anticipated to have the highest temperature rise over the said period. The drought season for the central and southern Punjab and some areas of Balochistan is projected to increase by at least 2.5 days.
How the world might look in 2020?
The report posed five scenarios for what the world might look like in 2040.
The most optimistic – a “revival of democracies” – observed that democratic governments would prove “better able to promote scientific research and technological innovation, catalyzing an economic growth,” empowering them to cope with domestic pressures and stand up to opponents worldwide.
The most pessimistic scenario – “tragedy and mobilization” – asserted how Covid-19 and global warming could destroy global food supplies.
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