Managing Director i Verdensbanken, Dr. Ngozi Okonjo-Iweala, holdt den 13. maj en stor tale i International Habitat Center med titlen “India in a Multipolar World”, som banken offentliggjorde fredag på sin hjemmeside.
Af Dr. Ngozi Okonjo-Iweala
I. Introduction: A new multipolar world
It is a pleasure to be with you tonight to reflect on India’s role in a changing world.
The economic crisis of 2008 will certainly prove to be a landmark – it belongs to the category of events that separate “before” from “after – as were 1929, or 1991.
After 1929 our understanding of the functioning of markets and role of governments was never the same. The world changed again in 1991 when the “second world” disappeared with the fall of the Soviet Union and we ceased to think in terms of two competing economic and political systems.
The 2008 economic crisis will no doubt prove to be another such watershed. India and China, together with other East Asian countries and even Sub-Saharan Africa, helped anchor (redde) the world’s faltering economy.
The crisis accelerated the relative shift in power – the developing world’s share of global GDP in purchasing power parity terms has risen from some 33 per cent in 1980 to 43 per cent in 2010.
In this, Asia’s share alone stands at 21 per cent. And Asia’s stock markets now account for almost a third of global market capitalization, ahead of those of the US and Europe.
The financial crisis also made it clear that emerging economies need to be involved in decisions affecting the global economy. In the formulation of a response to the economic crisis the G7 evolved into the G20.
In this new multipolar world, India has clearly emerged as a key player. While scenarios differ on whether India will overtake China in terms of growth rates, there is no doubt that India will be one of the powerhouses of this century.
II. Two Indias
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