The Role of Innovation

A pessimist might read about China, India and other developing countries and conclude that they’re going to achieve growth at the “expense” of Western countries.

And while this could in theory take place, it doesn’t have to happen.  As for the argument that these emerging economies are going to win at our expense, this assumes that the size of the wealth pie we’re dividing up is “fixed.”

It’s NOT…this video graphically depicts worldwide developments over the past two centuries and in particular the recent growth in emerging markets.

As you’ll see, there is room for us all in the wealthy / healthy quadrant.