Power Center
Power Center
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US $7.50
The economic downturn has meant a lot of changes in the global order, for once its the G-20 consisting emerging economies like India, China and Brazil that is more important then the more elite G-7 club. The very fact that while US and European economies continue to struggle and grow the economies of China and India in particular are growing at an amazing pace of 8% - 9%, this has only expedited the process of shift in global power to these Asian giants from the traditional power center the USA and to some extent Europe. China is rapidly becoming the supplier to the globe and is like to even over take USA in the next 15 years and become the world's largest economy.
India on the other hand is fast becoming the service provider to the globe, with a large English speaking population and great technical pool its fast becoming the choice of major multi national firms to set up their service centers and do business from India. The other most interesting fact is that the economic potential of these two giants of World still largely remains untapped, with the population of Europe and Japan shrinking these economies will require skilled labors from India and China to keep their economies going.
All this has meant an economic situation in USA and Europe where the local jobs are getting out sourced to Indian and China in large numbers.There is understandably a lot of discontent, but the only way for the work force in Europe and USA to save their jobs is to upgrade their skill level and be ready for more stiff competition from these two giants of world economy.
The economic shift has also meant greater influence for these countries in Africa and Latin America, as a matter of fact Chinese firms are investing on a massive scale in Africa and Latin America in Power project and in mining projects. The Indian companies are not far behind.
So what does all this mean does it mean that no one can stop these two giants from becoming the next two great powers of the globe?Well the answer is that their rise to top is not going to be easy.
Lets talk about China first, its a country that has taken a short cut to prosperity by not giving its people the choice to elect their leaders, how long will this continue and how long will the Chinese agree to live in a highly controlled society with out the freedom to choose is a matter to be seen, already there is a great deal of discontent and more protests are taking place against government policies then ever before. So for the Chinese communist to keep a control on their society with an iron fist is not going to be easy and the future might see a Chinese public outcry for freedom and democracy that can undo a lot of the economic miracle that we are seeing right now.
In the case of India corruption is slowly but surely decaying the society from with in, the country has democracy but the elected representatives are so corrupt along with the bureaucrats and judiciary that already in many parts of India rebel movements are taking place in which hundreds and thousand have been killed the past decades. All in all if corruption continues to grow at the rate it is growing in India right now it can undo all the good work done so far.
In conclusion the rise of India and China as global powers is imminent but their own policies can undo their rise to the very top of global power center.
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