West must prepare for Chinese, Indian dominance:
Sun Nov 26, 5:32 AM ET
from Yahoo News
Western nations must prepare for a future dominated by China
and India, whose rapid economic rise will soon fundamentally
alter the balance of power, former World Bank chief James
Wolfensohn has warned.
Wealthy countries were failing to understand the impact of
the invevitable growth of the two Asian powerhouses, Wolfensohn
said in the 2006 Wallace Wurth Memorial Lecture at the University
of New South Wales at the weekend.
"It's a world that is going to be in the hands of these
countries which we now call developing," said Australian-born
Wolfensohn, who held the top job at the global development bank
for a decade until last year.
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