China’s cities are going to have much larger economies and will be filled with big-spending Chinese. At the same time, per-capita incomes will lag behind those in today’s developed cities for many years to come, says a new report (pdf) on trends in the top global cities, released May 8 by Oxford Economics.
The number of Chinese cities among the 50 largest by GDP will more than double, from eight now to 17 by 2030. That puts China ahead of the U.S. in total numbers and way ahead of Europe. Over the same period, Europe will see eight of its cities fall out of the top 50.
Among the top 10 urban economies, Tokyo, New York, and Los Angeles will be first, second, and third in 2030. They will be followed by London, Shanghai, Paris, Osaka, Beijing, Chicago, and Tianjin.
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