India will be world’s largest economy this century, China ties can build multipolar world: US economist Jeffrey Sachs
Economist Jeffrey Sachs said stronger India-China cooperation could help create a multipolar world, with the two countries potentially becoming the world’s largest economies. He called their relationship crucial for trade, investment, technology and global supply chains.
Renowned economist Jeffrey Sachs believes that India and China working together can help create a multipolar world, rather than the US dominating other nations. In an interview with India Today, Sachs stated that "India and China together can really make a multilateral world" and noted that China has an interest in India's success, as it would contribute to a multipolar world.
Sachs predicts that within the next quarter-century, India will become the world's largest economy, surpassing the United States, which he expects to be third in that position. As the population difference between India and China grows, Sachs sees India's chances of becoming one of the two largest world economies in less than 25 years as favorable.
He also emphasized that the top four global powers are the United States, China, India, and Russia, with multipolarity already an established reality. Sachs criticized the Trump administration for its unilateral actions and highlighted the importance of BRICS, which accounts for about 40% of the global economy, providing a counterweight to unilateral decisions and military actions.
The joint declaration issued by BRICS countries in Delhi reiterated their support for a multipolar world order and called for reforms to the United Nations. Sachs emphasized the significance of India and China's relationship, the most important bilateral relationship in the world, and that enhanced cooperation could have far-reaching global implications.
Although Sachs acknowledged the ongoing border tensions between the two countries, he believed that a stronger relationship could boost investment, trade, technological partnerships, and supply chains. Sachs added that India's rapid growth and Chinese investments in joint ventures could further accelerate this growth. He also pointed out that the Indian economy's future should be viewed in the context of the shifting global economic power towards Asia, where it has been for 2,000 years before briefly departing after 1800.
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