Emerging economies, including India, will overtake the developed countries in economic growth by 2050, with the popularity of India and China as investment destination is rising while the attractiveness Europe and North America is slipping.

United States' trade deficit rose to the second highest level this year, reflecting higher prices for foreign oil and a continued appetite for Chinese products despite this year's recalls of tainted products.

U.S. stocks pointed to a lower opening in the U.S. on Wednesday, as a mixed batch of earnings reports led some traders to take profits after two weeks of gains in the Dow Jones industrials.

Economic growth in the United States has slowed in recent quarters, reflecting in part the economy's transition from the rapid rate of expansion experienced over the preceding years to a more sustainable pace of growth. Real gross domestic product (GDP) rose at an annual rate of roughly 2 percent in the second half of 2006 and appears to be expanding at a similar rate early this year.