World Banker Makes a Stunning Assessment
Econintersect: The developing world will cease the economic power from the now dominant western (formerly colonial) powers and by 2050 65% of world economic power will be held by countries that in the 20th century held only 20%. The center of the world will move to Asia with nearly 2/3 of all global GDP, India and China alone having about half of the world total. This week we have 19 minutes of excerpts from a 2011 talk to students at Stanford University by James Wolfensohn, World Bank President 1995-2005.
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