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The World Turned Upside Down: The Impact of the Return of India and China to their Historical Global Weight

The World Turned Upside Down: The Impact of the Return of India and China to their Historical Global Weight

This video was recorded at MIT World Series: The Annual Charles L. Miller Lecture. The world isn't so much flat as gravely tilting, "and may be on the way to some kind of self-destruction," believes Clyde Prestowitz, Jr. We're due for a major rebalancing of global economic might, which the U.S. may well experience as catastrophic change. There are historic cycles, he tells us. As recently as 1850, China was the world's largest economy, but by 1950, the U.S. and Europe had come to dominate the scene. Once again "the hinge of history is taking a big turn." China and India are fast overtaking Western nations in economic growth, driven by the digital revolution: "Half the world has come onto the capitalist road …at the moment when the road becomes a freeway," says Prestowitz. The implications... Show More

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