Results 1 to 4 of 4

Thread: India, China Will Rule The World: U.S. Expert

  1. #1
    Join Date
    Jan 2005
    Location
    America
    Posts
    30,715

    India, China Will Rule The World: U.S. Expert

    India, China will rule the world: US expert

    http://www.expressindia.com/fullstor...1753#compstory

    Press Trust of India
    Updated: Saturday, July 30, 2005 at 1352 hours IST

    Washington, July 30: The economies of India and China will grow and with the size of their population, will become larger than the US in absolute terms, an American analyst has said.

    "It is true that both China and India face daunting challenges and much could go wrong. I have been impressed, however, by the extent to which they have identified their challenges and put in place mechanisms to deal with them," founder of the Economic Strategy Institute and Counsellor to the Secretary of Commerce in the Reagan Administration Clyde Prestowitz told The Washington Post.

    "These economies will grow, and by dint of the size of their population, will become larger in absolute size than the US economy. Thus the weight of influence in the world will inevitably change in their favour," he said in an on-line chat, "The US is moving towards a service economy and away from manufacturing, leaving the country in a situation where it won't be able to produce its way out of debt," he said.

    Asian economies which invest part of their foreign exchange reserves in the US may keep buying US debt but this debt has to be financed.

    "We have to pay interest or dividends or in some way ultimately give them a return on the assets they have bought. That means a claim on future American income and thus lower standards of living for our grandchildren. Second problem is that our financing requirements now soak up about 80 per cent of available world savings. Once we hit 100 per cent, there is no place to go," Prestowitz said.
    No One Knows Everything. Only Together May We Find The Truth JG


  2. #2
    beltman713 Guest
    Which is why I can't help thinking that war is inevitable.

  3. #3
    Join Date
    Jan 2005
    Location
    America
    Posts
    30,715
    Quote Originally Posted by beltman713
    Which is why I can't help thinking that war is inevitable.
    I'm more concerned right now about Iran, and possibly Syria...
    No One Knows Everything. Only Together May We Find The Truth JG


  4. #4
    princesskittypoo Guest
    now i feel really stupid for charging MOMENTO to my credit card.

Similar Threads

  1. They Rule The World
    By Gold9472 in forum The New News
    Replies: 0
    Last Post: 05-26-2008, 06:56 PM
  2. China Opposed To U.S.-India Nuke Deal
    By Gold9472 in forum The New News
    Replies: 0
    Last Post: 03-05-2006, 01:58 PM
  3. China And India: A Rage For Oil
    By Gold9472 in forum The New News
    Replies: 0
    Last Post: 08-25-2005, 08:22 AM
  4. Replies: 0
    Last Post: 08-05-2005, 08:41 PM
  5. China determined to become world shipbuilding force
    By beltman713 in forum The New News
    Replies: 0
    Last Post: 06-17-2005, 06:46 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •