Musk outlined plans to build a full-scale AI company competing in large language models, image and video generation systems and coding tools, as xAI seeks to catch up with rivals. (File photo)
Elon Musk, the world’s richest person and CEO of Tesla, SpaceX and xAI, shared his views on shifting global economic dynamics, saying that “the balance of power is changing”, with China and India emerging as the main drivers of growth.
Musk made the remarks while re-sharing a post on X that cited International Monetary Fund data highlighting the top 10 contributors to global real GDP growth. in 2026.
The graphic places China and India at the top of the global real GDP growth chart, with the two countries projected to contribute 26.6% and 17%, respectively.
The United States sits at the third position with 9.9%, while developing countries like Indonesia, Turkiye, Nigeria and Brazil account for 3.8%, 2.2%, 1,5% and 1,5%, respectively.
The largest economy in the European region, Germany, is at the bottom of the list with just 0.9% share.
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Together, China and India account for 43.6% of global economic growth, with the Asia-Pacific region contributing nearly half of the overall expansion.
The January 2026 global economic report by the IMF states that “global growth is projected at 3.3% for 2026 and 3,2% for 2027, revised slightly up since the October 2025 World Economic Outlook.”
It goes on to say that growth will most likely be fuelled by technology investment, fiscal and monetary support, accommodative financial conditions, and private sector adaptibility offset trade policy shifts.
IMF predicts global inflation will fall, but in the US, it will return to target “more gradually.”
Elon Musk’s comment hints at a growing consensus amongst economists and policymakers that the global economy will shift from the West to Asia and parts of global south. While the US and EU are expected to remain centres of finance, their contribution is expected to reduce due to slow growth rates and an ageing population.
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Musk outlined plans to build a full-scale AI company competing in large language models, image and video generation systems and coding tools, as xAI seeks to catch up with rivals. (File photo) 
