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Emerging economies of India & China to attain world leadership besides US
16 May '05
1 min read
EU Commissioner and former Hong Kong Governor Chris Patten stated that the emerging ecomomies of China and India will eventually elevate them to a global leadership role along with the United States.
Speaking from the sidelines at the Singapore Regional Trade Show, Patten also informed that the US and EU had no reasons to claim about the surge in Chinese textile exports this year that has resulted in disruption of the global textile market.
"What we are witnessing is the re-emergence of China and India as global heavyweights," added Patten.
Patten explained that apart from being a leading manufacturer, China was also rapidly becoming an important consumer market for the rest of the world, which will only heighten the importance of Beijing on the global stage.
Calling China "workshop of the world" as well as "a big new market for what the rest of the world produces," Patten added that "Within a decade, China will almost certainly become the world's largest exporter and the world's largest importer."
Speaking from the sidelines at the Singapore Regional Trade Show, Patten also informed that the US and EU had no reasons to claim about the surge in Chinese textile exports this year that has resulted in disruption of the global textile market.
"What we are witnessing is the re-emergence of China and India as global heavyweights," added Patten.
Patten explained that apart from being a leading manufacturer, China was also rapidly becoming an important consumer market for the rest of the world, which will only heighten the importance of Beijing on the global stage.
Calling China "workshop of the world" as well as "a big new market for what the rest of the world produces," Patten added that "Within a decade, China will almost certainly become the world's largest exporter and the world's largest importer."
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