Monday, March 6

Keep an eye on China...
Or actually, try to keep up with China.

BBC Story: China's economy is projected to grow so fast that it could outstrip all developed nations by 2050, a report by Pricewaterhouse says.

The Asian giant's economy is set to double in size between 2005 and 2050, according to the report.

As with other developing countries, a key driver for China's rapid growth is its younger, cheaper workforce, it argues.

India, meanwhile, is expected to be the world's fastest-growing economy.

Interestingly, the Financial Times is reporting today that China is about to abandon most numerical economic targets from its decades-old planning system as part of an effort to change the country's obsession with growth at the expense of social programmes and the environment.

This is a healthy move to bring some balance -- recognizing that economic growth does not necessarily translate into quality of life growth. Still, even if they slow things down China is the force to be reckoned with.

A few weeks ago I was talking with my confirmation students (junior high) about what languages they are studying in school. I asked them what they thought was the most important second language to know. They answered, "Spanish" -- which of course, they know a bit of just from the playground (except for Anthony -- who speaks both Spanish and English at home). I asked what they thought was another important language to learn. They quickly responded -- "Chinese!" They know. They're sharp kids.

1 comment:

Ted M. Gossard said...

Yes Brad. That gets back to your correction of my recollection that it is Mandarin, and not Cantonese, that is the language many are learning nowdays. Thanks.