The world is changing with really remarkable speed
If you look at the chart at the top here, you'll see that in 2025, these Goldman Sachs projections suggest that the Chinese economy will be almost the same size as the American economy
And if you look at the chart for 2050, it's projected that the Chinese economy will be twice the size of the American economy, and the Indian economy will be almost the same size as the American economy
And we should bear in mind here that these projections were drawn up before the Western financial crisis
A couple of weeks ago, I was looking at the latest projection by BNP Paribas for when China will have a larger economy than the United States
Goldman Sachs projected 2027
The post-crisis projection is 2024
That's just a decade away