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A projection by the Standard Chartered Bank has estimated that Bangladeshis will be better off than Indians on a per capita basis by 2030, reported Bloomberg.
According to the report, the 2020s will be Asia's decade, with a number of countries expected to achieve growth rates of around 7 percent.
The press note by Madhur Jha, Standard Chartered’s India-based head of thematic research, and Global Chief Economist David Mann, said that India, Bangladesh, Vietnam, Myanmar and the Philippines should all reach the 7 percent benchmark.
Vietnam's GDP per capita is projected to soar to $10,400 in 2030 from about $2,500 in 2018, Bloomberg reported.
The South Asian countries in this group together will account for one-fifth of the world's population by 2030, according to Standard Chartered estimates.
Among the others in the 7 percent group are Ethiopia and Côte d’Ivoire. China is notably missing, after having been part of the club for almost four decades. This reflects both a slowdown in economic growth and a progression toward higher per-capita incomes, the report said.
Asian countries dominating the list is a change from 2012, when the list was evenly split between Asia and Africa: China, India, Indonesia, Bangladesh, Vietnam, Nigeria, Ethiopia, Tanzania, Uganda, and Mozambique.
(With inputs from Bloomberg.)
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