Contents

• Abstract
• Introduction
• Emerging Economies and their Economical Backgrounds
• The factors that made them Emerging Economies
• The Future World Economic Scenario – A Forecast
• The Responsibilities of the Future Rich Countries
• Recommendations
• Conclusion
• References

Description

The international economical scenario is fast changing. Some of the economies such as Brazil, India, China, Russia and South Africa are growing at a rapid rate threatening the hitherto rich status of the current major world economies. According to expert forecasts these economies would occupy half of the G6 status by 2050. While the change is apparent it would be interesting to observe as to the extent the current growth trend would manifest in those countries being rich. There are several factors that have played instrumental role in the growth of these economies such as vast land, natural resources, skilled human resource and huge domestic markets. The other side of the scenario is that the political systems of some of the countries are not conducive to sustain the growth and to play a responsible role in the global economy if and when they become rich. Some of the responsibilities of the current rich countries have been equality among human beings, human rights, preservation of natural resources and helping the poor countries to grow. The paper makes recommendations to the future rich to adopt the same values adopted by the current rich countries.