The world's 15 most successful economies in 2022

In our academic colloquiums in top universities in Europe, we came up with comparative matrices of the top economic and military powers among the countries in the world in 2022. We concluded that much more than military might which seems to be top of mind in Washington, Beijing and Moscow, the economy is much more primordial. Despite the current tensions in Asia Pacific, we feel that world leaders should focus on the economy, and set aside all hawkish tendencies and inclinations, especially with the impending food crisis and global famine in mind.

Thus, we identified the top 15 economies based on performance in 2022. In billions, the topnotcher is still the USA with 24796.076 in 2022 and projected to reach 25938.159 in 2023 and 26980.3 in 2024. The US economy is diversified and keeps on enlarging and further diversifying. It has successfully glided over the turbulent waves of disruptions by the global pandemic and despite all challenges posed by climate change and the rising tensions in geopolitics, which keep on derailing the global supply chain. The second placer also in billions is China with 18463.13 and poised to reach 19993.495 in 2023 and 21594.8 in 2024. China is however distracted by its hawkish policies in Asia-Pacific especially its attitude to Taiwan, Japan and the Philippines.

The distant third in billions is 5383.682 in 2022 and expected to reach 5735.342 in 2023 and 5958.65 in 2024. Japan has strong economic foundations and although it is quite conservative and lacking the aggressiveness of South Korea, its advantage is the positive culture and work ethic of its people. The fourth is Germany with 4557.35 in 2022 and is geared to reach 4774.082 in 2023 and 4985.99 in 2023. Fifth is the UK with 3442.205 in 2022 and with a trajectory hitting 3582.338 in 2023 and 3761.68 in 2024. The UK is assessing whether its decision to leave the EU was an enabler or a disabler in its economic development. Sixth is India with 3250.078 in 2022 and geared to increase to 3515.188 in 2023 and 3791.00 in 2024.

The seventh place goes to France with 3140.031 in 2022 and expected to reach 3281.714 in 2023 and 3415.95 in 2024. These economies are however hampered by its roles in the Ukraine crisis, which disrupted the supply of oil and gas from Russia. Number 8 is Italy with 2272.269 in 2022 and will reach 2369.654 in 2023 and 2453.01 in 2024. Italy has the best potential in tourism and has taken proactive steps to avoid the negative impact of the Russia-Ukraine war. The ninth place goes to Canada with its 2022 economic performance of  2189.786 in billions and gearing up to increase to 2306.066 in 2023 and to 2413.39 in 2024. The tenth slot goes to South Korea with 1907.661 in 2022 which will reach 2012.1 in 2023 and 2115.03 in 2024.If Seoul is not distracted by the tensions in Asia-Pacific, it is expected to grow even higher than its target.

The eleventh place belongs to Brazil, a member of BRICS (together with Russia, India, China and South Africa) with 1810.612 in 2022 and geared to reach 1958.406 in 2023 and 2120.20 in 2024. Russia is number 12 with 1703.507 in 2022 and hoping to reach a mere 1753.94 in 2023 and 1813.29 in 2024. Its adventurism in Ukraine and its posturing in Taiwan will most likely derail the achievement of its targets. Number 13 is Australia with 1677.451 in 2022 and expected to reach 1772.047 in 2023 and 1864.87, thereby surpassing Russia by then. Number 14 is Spain with 1570.91 in 2022 and is poised to reach 1659.884 in 2023 and 1742.69 in 2024. The last and fifteenth place goes to Mexico with 1371.635 in 2022 and will reach 1446.784 in 2023 and 1518.85 in 2024.

The following economies follow them: Indonesia, Iran, Netherlands, Saudi Arabia, Switzerland, Taiwan, Turkey, Poland, Sweden, Belgium, Thailand, Nigeria, Ireland, Austria, Israel, Argentina, Norway, South Africa, and United Arab Emirates, Vietnam, Malaysia and Denmark as number 38. Number 39 is the Philippines with only 406.107 and expected to reach 438.182 in 2023 and 471.806 in 2024.The good news is that we do better than Singapore which gets number 40. It has 396.995 in 2022, and may reach 418.39 in 2023 and 440.071 in 2024.

It is hoped that our economic trajectories will not be derailed by political conflicts in Asia-Pacific. The economy takes precedence over the personal and partisan ambitions of both Xi Jin Ping and Joe Biden. The economy builds the nations. Geopolitics can cause a nuclear war. That should be clear to both Beijing and Washington.