The recent years have witnessed a shift in the economic power from the west to the east. China and India are now taking over as the global economic super powers, a position that has for a long time been held by the U.S. This shift in economic power from the west to the east and to China and India in particular can be attributed to several factors. To begin with, the resent years have witnessed a tremendous growth in pool of professionals and talents in both in both India and china. Both countries channel out an average of 500,000 graduate engineers as well as scientists annually compared to the 60,000 graduate engineers and scientists produced in the U.S annually (Pete, 2005). China and India have therefore a greater rate of creating a pool of professionals as compared to the U.S. Moreover, a most of the graduates get their education in the West but eventually return to the east. The young enthusiastic professionals have brought with them great and diverse knowledge and expertise in their fields. This coupled with availability of latest tools and technologies have created room for creativity and innovation. The large population both china and India has further served to create not only a pull of human resource but a large market that has attracted many multinational companies. With great innovation, market research and adequate human resource, china and India have been able to produce and sell at very competitive prices. The U.S on the other hand, has produced more graduates in the health profession as well as business administration. 546206 degrees were given across all the U.S universities in medical health sciences (Pete, 2005). The educational output in the U.S is not in line with the technological requirements of economic growth in the 21st century. This shift in economic power may not last for long. This is because China and India are likely to be affected by setbacks such political instability, corruption, environmental as well as health issues. It is estimated that in both China and India one million die annually as a result environmental pollution. This is likely to eat up into the available workforce.
The younger generation of China and India that seek more education in technological related courses are likely to come and increase further the pool of technical manpower required for economic growth. The education background coupled with enthusiasm is great recipe for the future innovation that is likely to catapult both china and India to greater economic growth and hence economic power in future. The motivated generation will inject fresh impetus in the economic growth. With increasing innovations as well as a motivated, equipped and qualified workforce, both china and India are likely to fully take over the economic super power position that was occupied by the U.S in the recent past (Bremer, 2006). This shift in the economic power from the west to the east will put to test the global commitment to open trade. The western countries are likely to feel threatened by the eastern economies and hence pull sanctions on them as way to protect their market and territories. This will in effect alter the agreement on global free trade.
Despite their great success in education, china and India are still facing a number of challenges. As I have already highlighted, both china and India are faced with factors such as political instability, corruption, environmental as well as health issues. It is estimated that in both China and India one million people die annually due to environmental pollution. This is likely to eat up into the available workforce and threaten the economic growth that the country is currently enjoying. The countries lack legal framework to protect their environment from pollution as well as deforestation. China, for instances, is constantly loosing $200billion annually due to the effect of pollution (Bremer, 2006). The countries further face limited medical recourses as a result there is prevalence of diseases such as AIDS, tuberculosis among others. These medical challenges pose a threat to the population that forms the back bone of the countries’ economic growth.
In summary, China and India have risen over the past decade to challenge the position of the U.S as the global economic super powers. This has been attributed to the great growth in a pool of professional resource in both countries. The great population in both counties has served not only to create a pool of human resource but also has formed a market that has attracted many multinational companies. Moreover, the tendency of the Chinese and Indian youth to enthusiastically take up courses that are related to technology has served to increase technical knowledge and innovation in both counties. If the situation stands as it is China will go ahead and take over the position of the global economic super powers. That notwithstanding, China and India have several challenges that threaten their economic growth. Such issues include political instability, corruption, environmental issues as well as health issues. These issues threaten the potential of the east in becoming economic super powers.
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