"China is a large economy, it’s growing larger, but remember, it’s still a third or a quarter the size of the American economy. The Indian economy’s even smaller. The Chinese economy’s still not that much of a consumer economy. The Indian one is, but it’s small. So, for all those reasons, nothing will ever quite replace the American economy in its kind of systemic role that it plays. The American consumer, even today, the weight of the American consumer in the global economy is China plus India doubled. So, it’s tough to replace that."
World economy

January 1, 1970

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Original Language: English