Report: US, China, India will be half of economic growth by 2020

[Bush_Eats_Beef]

Silicon Valley/San Jose Business Journal - 9:24 AM PST Thursday

http://www.bizjournals.com/sanjose/stories/2006/03/27/daily43.html?f=et79&hbx=e_du

By 2020, the combined forces of the United States, China and India will account for more than 50 percent of all new economic growth, with the U.S. supplying 16 percent of that, according to a report issued Thursday. Globalization of companies will increase, the report predicts, and there will be sizeable growth in global economic output despite only a 15 percent increase in the work force. The Economist Intelligence Unit (EIU) report, which was sponsored by Cisco Systems Inc. (NASDAQ:CSCO), surveyed 1,656 executives in over 100 countries. Other key findings of the study were:

* China's economy -- measured at purchasing power parity exchange rates -- will be on par with the United States by 2020, and it will have the second largest consumer market and the largest tech sector. Asia's overall share of the global economy will rise to 43 percent from its current 35 percent.

* India will contribute 30 percent -- or 142.4 million -- to the 471 million new workers entering the global work force. The United States will contribute 12. 5 million new workers, and the overwhelming majority of new jobs will be in the service industry.

* The nature of the work force will continue to change. Two-thirds of executives surveyed for the report expect flatter organizations in which independent decision-making and collaborative environments will be the norm.

[sendero]

1. You know what cracks me up..

... these globalist jackasses actually think that India and even China, are going to be buying a lot of consumer goods from America.

I think this is nuts, they are not going to buy JACK from us except new technology they haven't copied yet.

America is in for some hard times.

[Bush_Eats_Beef]

3. STANDARD GOP talking point...

"Indian workers in call centers wearing sneakers made by Nike and drinking water bottled by Coca Cola."

People need to take a second look at the line "The United States will contribute 12. 5 million new workers, and the overwhelming majority of new jobs will be in the service industry" and realize that they are talking about the next 14 years.

American Middle Class, I hardly knew ye.

[flobee1]

4. Repugthink

"The United States will contribute 12. 5 million new workers, and the overwhelming majority of new jobs....."
If you lose your 50k/yr job and have to take 2 20k/yr jobs to survive-
THAT IS NOT PROGRESS!!!!!!!!


WHY IS NOONE SEEING THIS!?

[Bush_Eats_Beef]

5. That's my point...why is no one seeing this.

"Service" industry means fast food, health care, etc...

You know what?

If rents, grocery prices, health care costs, etc. came down to where I could AFFORD to work at Wal-Mart, I'd work at Wal-Mart.

In California (Silicon Valley, where I live) these factors continue to RISE while wages DROP.

We're building a nation of workers who will living in their cars while they flip burgers.

[Deja Q]

2. Assuming nothing goes "boom" first.

Someone will have to give up the oil.

Can anyone guess who might be?

[sadiesworld]

7. The bullseye gets bigger every day.

:(

[LSK]

6. What will be the other half? EU?