Expert Zone

Straight from the Specialists

What ails the UK and western economies

Photo
-

(The views expressed in this column are the author’s own and do not represent those of Reuters)

The industrial revolution which missed India eventually resulted in this once developed and rich country being placed on the receiving end of a ruthless colonial enterprise.

Those engaged in indigenous trade and crafts were coerced into producing primary goods for export at prices convenient to the United Kingdom.

Thanks to newly found mechanised facilities, their industries were now capable of producing far more and better finished products than the artisans in India. These value-added goods were then dumped in India and other markets of the vast British Empire.

U.S. vs China: which economy is bigger, better?

Photo
-

A girl holds a U.S. and Chinese flag at the White House in Washington January 19, 2011. REUTERS/Kevin Lamarque/Files

(The views expressed in this column are the author’s own and do not represent those of Reuters)

One of the most surprising developments resulting from the financial crisis is the belief among ordinary Americans that China has become the world’s leading economy. This view appeared in the roughest times of 2009 and has persisted even though the impact of the crisis has begun to ebb. U.S. media have frequently conveyed the same belief. But it is patently absurd.

  • Editors & Key Contributors