Digital China
Can China fulfill the role of United States? 6 November 2009 when the World Bank makes a study and expected that Brazil will continue to grow and that can, in 2016, be it fifth largest economy in the world, you are placing us a challenge, Luiz Inacio Lula da Silva, President of Brazil. It is increasingly common to hear this type of forecasts on emerging economies. While the developed world fighting for their livelihood and prepares for big challenges in the future, the emerging world (or at least one part of this underworld of countries), is preparing for the economic development and to be in the discussion of global leadership. I’m not saying anything new when I say that China is managing to be the next great global power, fighting the leadership to own USA. However, I think that Andy Xie, former economist head of Morgan Stanley for Asia-Pacific, recognized as one of the most brilliant analysts of the Asian continent, is making a major bet with forecasts for more accurate.
Andy Xie, who was also one of the economists who managed to predict the crisis subprime, anticipated in an interview with Digital freedom, China only needs 15 years more to surpass the U.S. as the first power. To understand why China will move to U.S. world leadership a starting point that we can choose is what happened in the American economy and that it indicated the crisis subprime. About what has happened with the crisis subprime, Xie poses that the crisis is a crisis of model. The prevailing economic model in the world raised debt of developed countries (especially in USA), funded by the emerging world. A situation which was held until American debtors could not cope with the weight of its debt. With the recovery becomes to consider if this dynamic will continue, even though for many already it is not sustainable.