The seven dwarfs the others

Market Morsel

Forget the seven dwarfs, there are seven giants we need to keep an eye on that will be responsible for the bulk of the worlds’s economic growth, energy supply and food production (as measured by calories supplied) as we head into the next decade. The seven giants are the USA, European Union, China, India, Indonesia, Russia and Brazil.

Estimates to 2035 have these seven giants responsible for 67% of the world’s Gross Domestic Product (GDP), which is the primary measure of economic activity. The economies of these big seven nations already leave a significant carbon footprint on the planet, but then they are also responsible for the bulk of the worlds final energy supply. This trend is expected to continue over the next decade with the seven giants accounting for 66% of energy supply by 2035. World food production, as measured by calories produced/consumed, is also heavily weighted towards the big seven. By 2035 around 58% of world food production will be undertaken by the big seven.

However, strong population growth rates in the developing world and relatively stagnant population growth in many developed Western economies means that by 2035 it is projected that the big seven will account for just 52% of the world’s population, despite their higher contribution to economic growth, energy supply and food production.