The US, Japan, Germany, India, and South Korea follow at 16, 7, S, 3 and 3 per cent, respectively. China is also the world's largest trader (#1 in exports, #2 in imports) and by far the largest exporter of manufactured goods, from both Chinese and foreign companies. The world has sought to diversify from this overwhelming concentration in one country through China Jrl geo-economics. While China remains a key manufacturing source, other countries, including India, seek to be that Jr1. As the world diversities its geo-economic reliance on one country, we should also diversify our geopolitical reliance on a single nation. What constitutes world leadership? The US emerged from the Second World War with a dominant economy (accounting for 60 per cent of world manufacturing output) and by far the strongest military. Several multinational institutions were constructed for the post-war period: The United Nations, the World Bank and International Monetary Fund, the World Health Organization, the World Trade Organization (that C hina dominates global manufacturing, current-l \ \ND\I-\'S V !OR\.D?
This story is from the November 21, 2024 edition of Business Standard.
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This story is from the November 21, 2024 edition of Business Standard.
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