Second half of century belongs to Asian giants?

More countries are emerging as potential suppliers of rare earth elements

- BY JAY HILOTIN Senior Assistant Editor

Around 2050, the centre of “economic gravity” will lean more heavily towards Asia than ever before, according to Goldman Sachs.

The New York-based investment bank predicts that a dramatic shift in global economic power is underway — and would see its epicentre moving east.

By 2050, the economies of emerging Asia could account for around 40 per cent of the world’s total output, equivalent to $90.6 trillion in today’s dollars, Goldman Sachs said.