According to professional services group, PriceWaterhouseCoopers (PwC), the E7 set of budding nations like Russia, Indonesia, China, India, Brazil, Mexico and Turkey is probable to pass the recent G7 by 2020 in relation to the economic authority.

Recent statistics reveals that the UK will probably drop back in terms of development from Asia and Latin America as the influence of the slump and the financial catastrophe across the globe is anticipated to speed up more with the move in worldwide economic authority to the budding economies, as per the reports.

PWC's protrusions depict that the UK's world share of GDP will turn down during the coming 40 years, from above 3% to below 2%.

At present, the UK has just a little share of exports moving towards the budding markets and greatly stress on trade to the US and EU.

If augmented trade and investment amid the UK and the E7 economies could be attained, the UK economy and customers could gain from the elevated development of the budding nations.