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Q: You have written about the reasons to invest in India and China, but you haven’t said whether you think those countries pose a threat to American hegemony in the world economy. Do they? (Sahara Chhabra, Dallas.)
Ans: We’re neither economic forecasters nor political prognosticators by trade. But you don’t need to be either
to see that, right now, the US certainly holds a robust lead in the race for hegemony. Our economy is about five times as large as China’s and nearly 15 times larger than India’s, yet we have about a quarter of the population of either of those nations. That can only give the United States a real advantage in providing education, health care and national security – plus all the other stuff that makes a country thrive. But “right now” doesn’t mean forever. All you need is a ruler to draw the straight-line extrapolation that shows China and India, with their faster growth rates, will eventually catch up to the United States in terms of pure economic size. For China, that would occur as early as 2045, and for India, the date would be some 20 years later.
For Complete IIPM Article, Click on IIPM Article
Q: You have written about the reasons to invest in India and China, but you haven’t said whether you think those countries pose a threat to American hegemony in the world economy. Do they? (Sahara Chhabra, Dallas.)
Ans: We’re neither economic forecasters nor political prognosticators by trade. But you don’t need to be either
to see that, right now, the US certainly holds a robust lead in the race for hegemony. Our economy is about five times as large as China’s and nearly 15 times larger than India’s, yet we have about a quarter of the population of either of those nations. That can only give the United States a real advantage in providing education, health care and national security – plus all the other stuff that makes a country thrive. But “right now” doesn’t mean forever. All you need is a ruler to draw the straight-line extrapolation that shows China and India, with their faster growth rates, will eventually catch up to the United States in terms of pure economic size. For China, that would occur as early as 2045, and for India, the date would be some 20 years later.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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