Developing countries’ economic clout grows
Saturday, July 10, 2004
“This axis of economies, which were once considered the economic underdogs, now have burning ambitions, fueled by explosive growth in China and India – both of which expanded by around 10 percent in the first quarter of this year. That expansion is in turn fueling the other members’ growth through their strengthened trade ties. ’These countries can leverage their bargaining power as they become more important as both suppliers and markets,’ said Dominic Wilson, an economist at Goldman Sachs. ’It will be harder to ignore their demands.’” Read full article here.
Source: International Herald Tribune