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‘China, India to be top economies by 2035’... |
By admin at Thu, 2006-02-16 20:42
“Progressively, the skill set of the population is growing,” Glenn Maguire, Asia Pacific Chief Economist at the French bank said on the sidelines of a conference.
“If you have a highly skilled force which we are starting to see in China and India... The mass of the economy starts to expand exponentially.” He said that higher education and urbanisation in China and India would help them become the world's biggest economies based on purchasing power parity.
By 2035, the US and Japan, currently the biggest and the third-largest economies in the world respectively, would be relegated to No 3 and No 4.
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