West must prepare for Chinese, Indian dominance
(isn't that one of the end times bible prophesies too?)
Former World Bank chief James Wolfensohn has warned that western nations must prepare for a "future dominated by China and India, whose rapid economic rise will soon fundamentally alter the balance of power."
So this is what happened while we were all sleeping and the corporate powered government was at work?
Wolfensohn said that somewhere between 2030 and 2040, China would become the largest economy in the world, leaving the United States behind.I certainly hope that China and India do a better job with Africa than the western nations did and teach them about STD transmission in a responsible way.
By 2050, China's current two trillion US dollar GDP was set to balloon to 48.6 trillion, while that of India, whose economy weighs in at under a trillion dollars, would hit 27 trillion, he said, citing projections by investment bank Goldman Sachs.
In comparison, the US's 13 trillion dollar income would expand to only 37 trillion -- 10 trillion behind China.
"You will have in the growth of these countries a 22 times growth between now and the year 2050 and the current rich countries will grow maybe 2.5 times."
In light of these forecasts, it was clear that Western nations and Australia were not investing enough in educating the next generation to be able to take advantage of the coming realignment, he said.
"The fact that not enough of our young people are preparing themselves with knowledge, experience, residence and language to deal certainly with China, although India has the benefit of an English language, it does seem to me that it presents a formidable challenge."
Wolfensohn pointed to both China's and India's recent substantial investments in Africa as an example of how the two emerging giants were exercising their increasing clout on the global stage.
"Within the last two weeks the world has been put on notice that Africa is no longer the basket case that everybody had historically thought it was but is now front and centre in terms of development by India and China."
The president gave a speech in February of this year, "Some people have said the 21st century will be the Asian century. I believe the 21st century will be freedom's century. And together, free Asians and free Americans will seize the opportunities this new century offers and lay the foundation of peace and prosperity for generations to come."
He left out the part where free Asia would leave free America in the dust, not that it wasn't obvious it would happen.