According to a report by British bank HSBC's global research department, the Philippines could become the world's 16th largest economy in 2050, CNN's Business 360 Global Exchange blog reports. The country ranked 43rd in their 2010 list, which means that, given the current state of economy, HSBC believes it has the capacity to jump 27 places.

The report, which predicts different countries' economical state after 40 years, also foresees China usurping the US in the top spot to become the strongest economy in the world. Among other Asian countries in the top 20 are India (3rd), Japan (4th), Turkey (12th), South Korea (13th), and Indonesia (17th).

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To get 30 of the top ranking countries from HSBC's report, visit CNN.com here.


(Photo source: sxc.hu)