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Concerned over the escalating competition from India and China, a top US official has asked the American companies to "flex muscles" and tap the expanding middle class in these countries.
"It is critical we understand that the world has changed. Competition from countries like India and China is more intense," the undersecretary of commerce for international trade, Francisco Sanchez said at the National Association of Counties Annual Conference Location in Portland, Oregon.
Sanchez urged the American companies to take benefit of the emerging middle class in these countries.
"We know that there is an expanding global middle class that's expected to add over a billion new consumers over the next 15 years," he said.
"China alone has moved more people out of poverty in the last couple of decade than any civilisation in history.
"As people there, and in India and Brazil and countries across the world, realise prosperity that most Americans take for granted, they're going to want the conveniences that come with middle class life," Sanchez said.
"This past decade saw the slowest average annual job growth since World War II, and that is still true even if you stop measuring before the beginning of the recession in 2008," he said.
"It's easy to understand why. Over the last decade the US has experienced increased competition from other industrialised nations," Sanchez said.
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Concerned over the escalating competition from India and China, a top US official has asked the American companies to "flex muscles" and tap the expanding middle class in these countries.
"It is critical we understand that the world has changed. Competition from countries like India and China is more intense," the undersecretary of commerce for international trade, Francisco Sanchez said at the National Association of Counties Annual Conference Location in Portland, Oregon.
Sanchez urged the American companies to take benefit of the emerging middle class in these countries.
"We know that there is an expanding global middle class that's expected to add over a billion new consumers over the next 15 years," he said.
"China alone has moved more people out of poverty in the last couple of decade than any civilisation in history.
"As people there, and in India and Brazil and countries across the world, realise prosperity that most Americans take for granted, they're going to want the conveniences that come with middle class life," Sanchez said.
"This past decade saw the slowest average annual job growth since World War II, and that is still true even if you stop measuring before the beginning of the recession in 2008," he said.
"It's easy to understand why. Over the last decade the US has experienced increased competition from other industrialised nations," Sanchez said.
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Prof Rajita Chaudhuri - The New Age Woman
IIPM BBA MBA B-School: Rabindranath Tagore Peace Prize To Irom Chanu Sharmila
GIDF Club of IIPM Lucknow Organizes Blood Donation Camp
Award Conferred To Irom Chanu Sharmila By IIPM
IIPM Professor Arindam Chaudhuri's Achievements
3 comments:
Is the Asian Century upon us? It depends · Let's tap into our 'global ... There is an essence to India, which tells us that behind the diversity of life, ... Its middle class is already larger than the U.S. population, and expected ... and IT companies in the United States were started by Indians, ...
The truth is, as countries like China and India grow and develop larger middle classes, it’s profitable for global companies to aggressively pursue these markets and, at times, to set up facilities in these countries
Comparing the Indian economy with the Chinese economy has become almost a pastime for many analysts. A majority of these economic analysts have come to the conclusion that as of the year 2003, China is well ahead of India. As The Economist of London titled its recent cover story on the subject: "India V China: A Tiger, Falling Behind a Dragon."
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