John Hawksworth, the head of macroeconomics at PricewaterhouseCoopers LLP, said, "The global centre of economic gravity is already shifting to China, India and other large emerging economies and our analysis suggests that this process has a lot further to run."

The most recent projections of PricewaterhouseCoopers indicate that China may overtake the United States within the year 2050 to become the leading economy of the world. It will also continue growing to approximately 130 percent of the size of United States by the year 2050. India may grow to approximately 90 percent of the size of United States by 2050. It is expected that by 2050, Brazil will overtake Japan and will move to the fourth position. Indonesia, Mexico and Russia have the possibility to have larger economies compared to the United Kingdom and Germany by middle of the century.

However, Vietnam may be one of the fastest movers with a growth rate of approximately 10 percent per year in real dollar terms. The report further points out that depending on the investment nature, there are several other options that are worth considering. Nigeria has the long-lasting possibility to overtake South Africa by the year 2050. Bangladesh, Egypt and Philippines have high growth chances but high risk levels.

John Hawksworth, the head of macroeconomics at PricewaterhouseCoopers LLP, said, "But while the macroeconomic story should be 'win-win', at the company level there are likely to be both winners and losers from the process of adjusting to this new world economic order."

By 2020, China will possibly become the world's second leading consumer market. Cities across emerging markets will have fast emerging middle class populations having spending power to pay for the Western consumer services and goods. John Hawksworth said that retailers must recognize the correct business strategies for overseas ventures.

Similar cautions are applicable for business services, healthcare, energy and utilities and educational services - which are some other potential winners. Vietnam and other new lower cost competitors, will challenge China increasingly as leader of the lower-cost manufacturing in the worldwide economy.