Battle for Prosperity
By some measures, the emerging economies led by China and India make up a larger share of the world economy than the developed world, so are they about to catch up with the West, or even take over? Following the credit crunch, many fear widespread recessions in the West, but pessimism about the future has also infected debate about the emerging economies, with some doubting whether global prosperity is possible or desirable. Is it feasible for the emerging economies to become as rich as the West? Will the economic leaders of tomorrow come from the developing rather than developed world?
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