‘Balance of power is changing’: Elon Musk flags India-China’s rising grip on global growth
Musk’s brief but pointed comment reflects a growing consensus among economists and policymakers: economic gravity is continuing its long-term shift away from the transatlantic axis toward Asia and parts of the Global South.
- Jan 31, 2026,
- Updated Jan 31, 2026 1:28 PM IST
World’s richest person Elon Musk has weighed in on shifting global economic dynamics, declaring that “the balance of power is changing” as emerging economies, mainly China and India, take the lead in driving world growth.
Musk made the remark while sharing data that highlights a dramatic reordering of contributors to global real GDP growth in 2026. According to figures attributed to the International Monetary Fund (IMF), China and India alone are expected to account for nearly 44% of global economic expansion — underscoring Asia’s rising influence at a time when advanced Western economies are contributing a far smaller share.
At the top of the list is China, projected to contribute 26.6% of global real GDP growth, followed by India at 17%. Together, the two Asian giants make up 43.6% of total global growth, a statistic that starkly illustrates the scale of economic momentum shifting eastward.
The United States, long the dominant engine of global growth, ranks third with a contribution of 9.9%, less than a quarter of the combined share of China and India. Germany, the largest economy in Europe, appears at the bottom of the top 10 list with just 0.9%.
Beyond China and India, other emerging and middle-income economies also feature prominently. Indonesia is projected to contribute 3.8% of global growth, Türkiye 2.2%, and Vietnam 1.6%. Major developing economies such as Brazil and Nigeria each account for around 1.5%, while Saudi Arabia is expected to add 1.7%.
Taken together, the Asia-Pacific region is projected to generate roughly half of global economic growth in 2026, reinforcing the idea that the world economy is increasingly being shaped by demographic scale, urbanisation, and faster growth rates in emerging markets rather than mature Western economies.
Musk’s brief but pointed comment reflects a growing consensus among economists and policymakers: economic gravity is continuing its long-term shift away from the transatlantic axis toward Asia and parts of the Global South. While the United States and Europe remain central to global finance, innovation, and trade, their relative contribution to incremental growth is shrinking as populations age and growth rates slow.
The data also carries geopolitical implications. Economic growth often translates into greater political influence, investment power, and strategic leverage. As China and India consolidate their roles as primary drivers of global expansion, their voices in international institutions and global governance debates are likely to grow louder.
World’s richest person Elon Musk has weighed in on shifting global economic dynamics, declaring that “the balance of power is changing” as emerging economies, mainly China and India, take the lead in driving world growth.
Musk made the remark while sharing data that highlights a dramatic reordering of contributors to global real GDP growth in 2026. According to figures attributed to the International Monetary Fund (IMF), China and India alone are expected to account for nearly 44% of global economic expansion — underscoring Asia’s rising influence at a time when advanced Western economies are contributing a far smaller share.
At the top of the list is China, projected to contribute 26.6% of global real GDP growth, followed by India at 17%. Together, the two Asian giants make up 43.6% of total global growth, a statistic that starkly illustrates the scale of economic momentum shifting eastward.
The United States, long the dominant engine of global growth, ranks third with a contribution of 9.9%, less than a quarter of the combined share of China and India. Germany, the largest economy in Europe, appears at the bottom of the top 10 list with just 0.9%.
Beyond China and India, other emerging and middle-income economies also feature prominently. Indonesia is projected to contribute 3.8% of global growth, Türkiye 2.2%, and Vietnam 1.6%. Major developing economies such as Brazil and Nigeria each account for around 1.5%, while Saudi Arabia is expected to add 1.7%.
Taken together, the Asia-Pacific region is projected to generate roughly half of global economic growth in 2026, reinforcing the idea that the world economy is increasingly being shaped by demographic scale, urbanisation, and faster growth rates in emerging markets rather than mature Western economies.
Musk’s brief but pointed comment reflects a growing consensus among economists and policymakers: economic gravity is continuing its long-term shift away from the transatlantic axis toward Asia and parts of the Global South. While the United States and Europe remain central to global finance, innovation, and trade, their relative contribution to incremental growth is shrinking as populations age and growth rates slow.
The data also carries geopolitical implications. Economic growth often translates into greater political influence, investment power, and strategic leverage. As China and India consolidate their roles as primary drivers of global expansion, their voices in international institutions and global governance debates are likely to grow louder.