The US will no longer be the world's dominant economic superpower. (Getty)
The US could lose its crown as the world's biggest economy as soon as next year, according to data from Standard Chartered. Once it falls behind China, it is unlikely ever to regain the top spot, and by 2030 could also be behind India. By 2030, the bank said, Asian GDP will account for roughly 35% of global GDP, up from 28% last year, and just 20% in 2010. Seven of the world's 10 largest economies will be in Asia in the next decade.
The US could lose its position as the world's biggest economy as soon as next year, and once that happens, will likely never regain the top spot as developing Asian economies power ahead.
According to research released this week by Standard Chartered Bank, China will most likely become the world's biggest economy by some point in 2020, when measured by a combination of purchasing power parity (PPP) exchange rates and nominal GDP.