Global vision for the future

China Forum | Mukul Sanwal

India and China should reconstruct international relations theory to include sharing resources and technology to realize 'Asian Century'

Today countries are gaining in influence more because of the size of the economy than the strength of their military, and the new government in India may well respond to the global rebalancing and join hands with China to shape the "Asian Century" According to an analysis of long-term economic trends by the Organization for Economic Co-operation and Development, Asia will be the world's powerhouse around 2030, just as it was prior to 1800. Currently the OECD has two-thirds of global output compared to the one-fourth of China and India, and by 2060 these two countries are expected to have a little less than half of world's GDP with the OECD's share forecast to shrink to one-quarter. India's GDP is expected to increase to 18 percent as a share of global GDP, while China's share is predicted to be 28 percent.