We are in the midst of a structural change in the global economy, which will, in the flash of an eye or a couple of decades (depending on your perspective), completely change the world pecking order.
Goldman Sachs, in its well-argued BRIC report, posits that China is likely to become the largest economy in the world (in dollar GDP terms) by 2040, and that India could be the third largest economy in the world in less than 30 years.
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