There was a time when there were only two superpowers in the world, but that is not the case anymore. Today, powerful countries are located not only on two continents but all over the world, and developing technology and population determine how effective they are in global politics. Of course, boundaries do not matter when it comes to entertainment like music or https://vulkanvegas.com/en/category/slots, but we can say that we live in a completely different world in terms of commercial and political power balances. The old superpowers are not as effective as they once were, and there are many new countries that are candidates to become new world leaders. So, which are these countries?
India
The COVID-19 pandemic has halted and even receded the economic growth of many countries, but this is not the case for India. India has always been on the list of fastest-growing countries, but for the first time, it has managed to top it: economists estimate that the country will grow 7.2% between 2021 and 2025. It is enough to look at Europe's growth figures to understand how big this figure is. The IMF estimates that the Eurozone will reach 4.2% growth by mid-2021, but this figure will drop to 3.6% in 2022.
India, on the other hand, will continue to grow at much higher numbers during this period, and this increase will never stop: in a few years, India may have one of the largest economies in the world. PMI readings and trade data in the country are also very positive. Moreover, the government has recently made several reforms involving more liberal policies and announced its withdrawal from the Regional Comprehensive Economic Partnership (RCEP). RCEP was a private free trade agreement between Australia, China, Japan, New Zealand and South Korea, and India's exit from this agreement is seen as the result of an effort to bring foreign investors into the country. In other words, India is no longer limited to its own geographic region but wants to open up to the world. If everything goes well, it can reach an even greater economic power than China. Although the political uncertainty in the country is unsettling, economic growth seems unavoidable: by 2025, India could become the world's new superpower.
Bangladesh
If you are looking for a country with as high a growth rate as India, look at Bangladesh: economists estimate that the growth rate of this country will be 6.9% over the same period (2021 to 2025). In fact, this is a much more impressive situation because Bangladesh is a much smaller country than India in terms of both area and population. (For you to have an idea, let us state that you can fit 30 countries like Bangladesh in India.) However, the fact that it will reach such a high growth rate is due to its more qualified population.
India can reach the growth rate we mentioned above with "brute power": in other words, it grows in terms of quantity, not quality. It has such a large population that it is still one of the largest economies in the world if it only buys without producing anything. Bangladesh, on the other hand, attaches importance to quality. As a result of the birth control policies that have been going on for years, the population of the country has reached a certain balance, and the majority of them are of working age. The unemployment rate in the country is very low, and almost everyone is producing something. This is a country where you will have no trouble finding a workforce. Some global brands even plan to shift their production facilities from China to Bangladesh. Bangladesh is one of the rare countries that can increase its growth rate thanks to its qualified population. The only problem is that the vaccination program in the country is not working very efficiently: COVID-19 could become a problem again, and many workplaces may have to close. However, if everything goes well, Bangladesh seems to become one of the countries that have a say in the world economy.
Rwanda
When we take a look at the economic growth forecasts, we see that Asian countries are in the first place. For example, Vietnam has a growth rate of 6.7%, and this figure is 6.6% for Cambodia. However, there are countries outside of the Asian continent: Rwanda is one of the fastest-growing countries in Africa, and its growth rate is estimated to be 6.7% between 2021-2025. The country which came to the world agenda with the civil war in the 1990s is now much more stable. Its GBP data was $2 billion in 2000 and $19 billion in 2019: this is a fast growth rate. Rwanda continued to grow even during the period of COVID-19, and this is something few countries in the world have been able to do.
The future looks bright for this African country, but there are two potential problems. First, the energy cost in the country is still very high. This situation prevents many global brands from entering Rwanda. The second is that the country owes its growth rate and stability largely to its current leader, Paul Kagame. No one can predict what will happen when Kagame leaves the leadership: the country may again be thrown into political uncertainty. But if that doesn't happen and the energy costs drop, Rwanda could have one of the most successful economies in both Africa and the world.
