The Asian Century - Opportunities and challenges for the UK

There is no hiding from the economic rise of the developing economies, and inparticular that of China and India. Leading global investment bank Goldman Sachsestimates that China will overtake the USA as the world’s largest economy by 2039.No doubt India will be close behind.Understandably many in business and government, at a local, regional, nationaland multinational level, see the rise of China and India as a challenge and threat.Yet while such rapid growth undoubtedly presents many challenges to thedeveloped economies, it also presents many benefits and opportunities.For example:■ Growth in China and India increases demand for goods produced in the restof the world, including the UK;■ Imports from China and India reduce prices, increasing the buying powerand choice available to consumers in the UK;■ China and India provide investment opportunities for UK companiesand individuals;■ Sourcing goods and services from China and India enables UK companiesto become more competitive in global markets;■ China and India provide opportunities for innovation and scientific collaborationthat can benefit the UK and the wider world.[...]