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Canada to lead G7 nations in average growth next 50 years, OECD says

The Canadian Press Published Friday, November 9, 2012 11:50AM CST Last Updated Friday, November 9, 2012 6:11PM CST

In issuing its long-term view of how it expects world economies to unfold, the OECD says Canada will continue to lead the Group of Seven industrialized economies in growth over the next half century. (file image)

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OTTAWA - The 21st century many not exactly belong to Canada, but according to a major world economic body the country is going to do pretty well.

In fact, the Paris-based Organization for Economic Co-operation and Development sees Canada among the world's leading economic lights over the next 50 years.

In issuing its long-term view of how it expects world economies to unfold, the OECD says Canada will continue to lead the Group of Seven industrialized economies in growth over the next half century.

And it will also be near the top on a per-capita basis -- possibly a truer measure of success -- with only Japan sneaking ahead.

The organization, which represents most of the world's wealthiest countries, predicts Canada's real gross domestic product will average 2.2 per cent growth in the next half century.

Overall, China and India are expected to outstrip industrialized economies in average growth on their way to becoming the world's biggest economies. But in terms of per capita standard of living, the OECD says they will still be well below that of the western world.