India to overtake US in second place

According to a report by Citi, India will overtake US in 40 years India as the world's second-largest trading nation, pushing today's superpower into third place and Europe in to the little leagues.

The report predicts that trade between emerging markets will overtake that between advanced economies in just four years in a clear sign that the world's major economies of Europe and North America are set to lose relative importance to the global economy.

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