| Summary: | Being a finance student what amazes me, and should really astound every
individual who has the slightest economic sense, is the nature and sheer pace of
the changing dynamic of the economies of this world. It will have a profound
impact on almost every financial decision made and in fifty years (or even
less), the list of the world’s ten largest economies will look very different. The
might of United States of America (USA), Japan and Western European
countries like Germany and United Kingdom will slowly diminish and pave
way for the next surge of dominance in the form of countries like China, India
and Brazil. This notion, to my mind, is no longer a matter of opinion but
increasingly becoming a matter of fact. It is clear when India grows at around
8% per annum while most industrialized economies contract. It is clear when
China manufactures more and more of what the world consumes. It is clear
when the President of the USA tells students that ‘you are competing with the
kids not only in your own country but in India and China’.
This dissertation attempts to highlight this change by reflecting on the many
facets of this proposition and giving an overall view of this exciting alteration
in the world economy.
|
|---|