According to Dr. Jean-Pierre Lehmann, professor of international political economy at the International Institute for Management Development in Switzerland, Asia has a much bigger impact on the world’s economy now with China being the second largest economy in the world.
“Fifteen years ago people all over Asia used to wake up and look at the US and what was going on in their economy, today however, people wake up and look at China,” Lehmann said.
He further said that there is fragility and the growth rates might not be the same, but there is a certain dynamism in the Chinese economy and the One Road One Belt initiative is an especially “big vision and dream” aimed at developing infrastructure across both land and sea.
“In terms of expanding Chinese influence this will have a huge impact,” Lehmann said.
He also discussed the continuous ageism of the Chinese population and how the “one child per family” policy has impacted the Asian economy. In India, however, the growing population and the dynamic entrepreneurship of its youth within the country may result in rising competition with China.
To learn more listen to the full interview below.