China and India have no lawsuits against businesses.
China and India both have no wages, so the cost of labor is near slavery levels.
So they are making their bones on the backs of modern day slavery wages.
Hilarous is that Russia and the Former Soviet zone will become a larger economic unit than the EU is right now.
Unless Obam is stopped we will be rafting to Haiti.
I hope this isn’t one of those guys who predicted that Brazil would be the next big thing back in the 70’s.
This idiot completely discounts the extreme probability of resource wars (energy, food, water) over the next few decades.
Predicting 19-39 years into the future using current trends is a waste of money unless you have a guy like Hari Seldon on your team. And even Hari Seldon failed to predict the Mule. I wonder who paid for this study.
He selects Bangladesh, China, Egypt, India, Indonesia, Iraq, Mongolia, Nigeria, the Philippines, Sri Lanka and Vietnam as "Global Growth Generators". Well, good luck with that.
If a country can't produce enough food, fresh water, and energy for domestic consumption, they are going to be screwed. From this list, that leaves Indonesia, Iraq, and Nigeria. Nigeria is a kleptocracy with a large, violent moslem population. Scratch them. Indonesia and Iraq are fragmented, moslem dominated countries. What moslem dominated country has ever been a "growth generator"?
The only thing I can think of is that this guy is trying to drum up business for some "emerging markets" mutual fund. Caveat emptor.
This guy is dead wrong. No, nothing is forever, even US economic dominance (especially with our debts). However, China is almost entirely dependent on exports - who will buy when the US, Japanese and European economies are in the toilet and will remain so for several more years? China literally has empty cities, built “on spec” if you will, because some bureaucrat just had to do something with a bunch of money in his budget. They are overleveraged to the hilt, and a large part of their foreign reserves are in rapidly-depreciating US dollars.
India? Let’s see what happens to their economy when they have a nuclear exchange with Pok-ih-stahn. Not that I wish it on anyone, but that’s almost as inevitable as another Mideast war.
Too many people, including supposedly genius-level economists and financiers, take existing trends and extrapolate them into the distant future, with no actual thinking going into the process. GIGO - trees don’t grow to the sky, and right now neither of those countries has anywhere near the average level of education to challenge us for dominance - as bad as our publik screwel system is. All we have to do is get our heads out of our rear ends on economic policy for 10 years or so, and talk like this will go the way of the 1980s predictions of Japan owning the world in 20 years.
No surprise at the speed we are sending them our factories and jobs.
Those who think we could cling to third place are irrepressible optimists. A more likely scenario would be the splintering of the United States into balkanized states, no longer responding to a central regime that grows increasingly unable to govern, reverting to fiats and edicts, a government no longer of laws, but of strong men - of which none are now in power in Washington.
Now individually, these then-balkanized states could prove to be some major economic powers in their own right, and once freed of the restrictions imposed by an otherwise unresponsive central government, could in the aggregate prove to be a much more powerful engine of economic progress than either China or India.
I begin to welcome the prospect of rendering the existing federal union called the “United States” into separate “red” and “blue” countries, the “red” country re-adopting the Declaration of Independence, the US Constitution, the adoption of English as the official common language, and establishment of minimum requirements to act as a citizen of that country. The “blue” country may adopt whatever the heck kind of cockamamie rules they want to impose on their hapless denizens, but they would be expressly prohibited from exporting those notions to the “red” country.
Start drilling and exploit our oil shale in the Dakotas and we become #1 again and stay that way for centuries.
I cant stress how important that ONE thing is to the USA.
Obama and his Rats are foreign and domestic enemies, no other logical way to assess today situation.