7. Three Emerging Countries
In this chapter we present three examples of emerging economies and the role they are likely to play in the global economy. The first two, China and India, are often portrayed as the two rising powers of the global economy. The third, Israel, is an example of a small nation that plays a vital niche role in the global economy.
The Chinese economy continues to grow at close to double-digit levels, defying western skeptics who opined at the time that it was impossible to develop a thriving free market without a democracy. China has shown that it is not only possible to have a thriving economy under a totalitarian regime, but also that the combination produces a new breed of competitors that use different ground ...