In a significant development covering great powers of the world, renowned investor Ray Dalio, in his latest Great Powers Index 2024, has identified a list of countries which are set to shape global dominance over the next years. The index evaluates countries based on key metrics such as economic output, military strength, trade, and per capita power and ranks them. Getting into the specifics, while the United States continues to hold its position as the world’s leading superpower, the report highlights the rapid growth that China, India, and other emerging players in the global arena have shown in the recent times.
As per the Great Powers Index 2024, traditional power structures may evolve significantly with shifting economic dynamics and geopolitical realignments. The report also mentions that China’s expanding economic and military influence plus with India’s growing global stature is pushing for a multipolar world order. Moreover, other developing nations are also positioning themselves as key influencers, thereby challenging the long-standing dominance of Western powers like UK and France.
| Rank | Country | Total Strength | Per Capita Strength |
| 1 | United States of America | 0.89 | 0.71 |
| 2 | China | 0.80 | 0.30 |
| 3 | Eurozone | 0.56 | 0.43 |
| 4 | Germany | 0.38 | 0.54 |
| 5 | Japan | 0.33 | 0.40 |
| 6 | South Korea | 0.32 | 0.54 |
| 7 | India | 0.30 | 0.07 |
| 8 | United Kingdom | 0.29 | 0.46 |
| 9 | France | 0.27 | 0.45 |
| 10 | Russia | 0.26 | 0.28 |
Source: Great Powers Index 2024 by Ray Dalio
Talking about India’s standings, India ranks seventh among global superpowers and most importantly, the Asian giant is set to achieve the fastest real GDP growth over the next decade, the report said.
India surpasses Japan to become 3rd largest power
India surpassed Japan to become the third-largest power in the Asia Power Index, according to an official statement by Ministry of Information and Broadcasting. The ministry highlighted that this achievement is driven by India’s dynamic growth, youthful population, and expanding economy, solidifying its position as a leading force in the region. It also reflects country’s increasing geopolitical stature.
“In a major shift, India surpassed Japan to become the third-largest power in the Asia Power Index, reflecting its increasing geopolitical stature” said the ministry.
About Asia Power Index
The Asia Power Index, launched by the Lowy Institute in 2018, is an annual measure of power dynamics in the Asia-Pacific region. It evaluates 27 countries across the Asia-Pacific, examining their ability to shape and respond to the external environment.
As per the ministry, one of the most significant findings in the 2024 Asia Power Index is India’s steady rise in the regional power rankings. Witnessing a gradual rise, India is looking to achieve its full potential and exercise its influence in the region.
(With inputs from agencies)
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