investing in a new world order

The year is 2050. Global economic growth is strong. Inflationary pressures are building in the world’s biggest economy, which is set to apply the brakes by raising interest rates. All eyes are trained on its central bank. But the object of their attention is not the US Federal Reserve, it is the People’s Bank of China.

This is many economists’ vision of the future, with China displacing the US as the world’s biggest economy over the decades ahead. Its near neighbour, India, is also expected to become an economic powerhouse.