Why Asia Will Eat Our Lunch
China and India, which together accounted for 75% of the world's GDP before the discovery of America, are on a steep trajectory to regain their prominence. "The potential size of their markets, their endless supply of low-cost labor, the unique combination of many highly skilled but low-paid professionals, and the investment incentives offered by their governments will constitute an irresistible package" that will soak up global investment. India, meanwhile, is moving rapidly up the value chain with its emphasis on software and computer services, along with processing of tax returns, medical X-rays, and the like. Want a new kidney or a hip? Visit one of India's high-tech "medical tourism" hospitals and get the procedure for less than half the cost in the U.S. or Canada, even figuring in the airfare. Surprisingly, there are already more info tech engineers in Bangalore (150,000) than in Silicon Valley (130,000).
posted by Unknown @ 3:33 PM
4 Comments:
Well, we're not dead yet, at least the USA isn't. I'm still not sure where reality ends and the hype begins regarding this "Asian Century" thing.
Muslims will never leave anybody alone, anyway.
The Chinese miracle may be oversold at least for now. I contended elsewhere http://futureuncertain.blogspot.com/2005/06/what-would-chinese-economic-crash-look.html that China is probably headed for a fall at least in the short term. There is tremendous lack of transparency combined with politicization of economic decision-making, which is pretty much what happened in E. Asia in 1997.
ik: Yes, India is in trouble with this, too. Actually, among the better news today is the ever closer relationship between the USA and India. We need this both against Islam and against authoritarian China. I believe Islam will lose, and one of the reasons for this is the combined forces and manpower of the West and India. But the fight could become ugly, both in your continent and in mine.
Do you know of any good Indian weblogs? I'd like to add a couple to my blog roll.
Thanks, ik. I'll have a look and add a few Indian blogs to my blogroll ;-)
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