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Chancellor Say China/India Keys To Future

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posted on Jan, 26 2006 @ 08:20 AM
On wednesday China and India touted their booming economies to the world at the annual meeting of the World Economy Forum. The chancellor of germany, Angela Merkel, says the India and China are key factors to the future of the economy and many new corporations will have homes there. India is a great new interest and china is running storng. meanwhile Stephen S. Roach makes points that such a gobal economy could have gloomy outcomes. He also point out how china supports the US economy currently and could for longer then expected.

"China will be the home of many of the companies" that are expected to emerge on the global scene, Schwab told reporters. "In some way we are creating a parallel World Economic Forum for the next generation of companies."

India had also come to Davos intent on underscoring that the South Asian giant had arrived on the world scene, said R. Seshasayee, vice president of the Confederation of Indian Industry and managing director of truck and bus-maker Ashok Leyland Ltd.

"There is now a critical mass of interest in the world about India," Seshasayee said

Stephen S. Roach, chief economist of financial services company Morgan Stanley, delivered a gloomy warning to the leaders about the global economy.

He said markets and officials had developed "a dangerous degree of complacency," assuming that an unbalanced world economy could continue without correction.

Asian central banks had helped to keep things going so far by supporting the U.S. economy much longer than could be expected, Roach said.

do you believe that china is coming to be the next huge superpower, not only rising in military but even more worrying in economy? China is booming and doesnt show signs of slowing down. anyone see some serious risks in creating such a power? all the money china will be making off of homing these corporations will just make them get bigger and bigger, making the US fall out of competition. Thats my worry here, that china is more then ready to outdo the US on the economy scale and might already be on the military scale.

EDIT: Spelling Error

[edit on 26-1-2006 by grimreaper797]

posted on Jan, 26 2006 @ 09:34 AM
As long as America doesn't go away, I'm fine with China and India taking the economic forefront.

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