Some good news for Asian nations as CNN Money's recent report on the world's fastest growing economy in 2015 finds eight out of the top ten nations coming from the Asian continent.
Clinching the top spot is India as the world's fastest growing economy with a rate of 7.5 percent, the growth rate previously enjoyed by China in the past three years according to a data by World Bank.
Now, China settles on the third spot behind India as the fastest growing economy and Qatar. The East Asian country has a growth rate of 6.8 percent, CNN Money reported.
Fastest growing economy India is seen by experts and analysts as a promising country in the next years. A recent report by BBC said India "will be the third largest economy" in the future, with World Bank officials reportedly saying it is poised to become a "multi-trillion dollar economy" as well.
In the same graph by CNN Money, India will remain on the top ten list of the fastest growing economy in the next five years. Recognizing some slides to either the second or third spot, India regains the top spot by 2020.
Meanwhile, China might need to do more to be able to regain this status. Settling on third place this year, China will spiral down to the fifth spot next year at 6.3 percent growth rate, 6 percent in 2017, until it bounces back at 6.3 percent in 2020 but finds itself on the eighth spot.
Recent reports said China is experiencing a hurdle in its stock market, after stocks fell to their lowest level in three weeks as Bloomberg reported.
The Philippines is on the upper tier
As a country that does not make it to the list before, the Philippines is now just three notches away from being the world's fastest growing economy and only one spot behind Asian superpower China.
The Southeast Asian nation has a growth rate of 6.7 percent in 2015 but will slow down as the decade comes to a close, the graph indicated.
As previously reported by Franchise Herald, the Philippines has a lower growth rate this year compare to the past years which had it at a record-breaking 7.8 percent during the first quarter of year 2013.
