Economist Jeffrey Sachs has said that stronger cooperation between India and China could play an important role in shaping a multipolar world. He believes both countries have the potential to become the world’s two largest economies, with the United States ranking third.
Speaking in an interview with India Today, Sachs, a professor at Columbia University, said closer India-China ties could support a more balanced global order. He said China also has an interest in India’s economic success as it could contribute to the growth of a multipolar world.
India China Could Lead Global Economy
Sachs expects India and China to become the two biggest economies in the world within less than 25 years. He also said India could eventually become the world’s largest economy sometime this century.
According to Sachs, India’s growing population and China’s declining population could influence the economic balance between the two countries. He noted that India is currently growing faster than other major economies, which could strengthen its position in the coming decades.
India China Ties Key to Global Growth
Sachs described the India-China relationship as one of the most important bilateral relationships in the world. He said stronger cooperation between New Delhi and Beijing could have a major impact on global trade, investment, technology and supply chains.
While acknowledging that border-related tensions continue between the two countries, Sachs said greater economic cooperation could bring significant benefits. He also suggested that Chinese investment and joint ventures in India could further support the country’s economic growth.
Sachs Highlights Rise of Multipolar World
Sachs identified the United States, China, India and Russia as the four major global powers and said multipolarity is already becoming a reality.
He also criticised unilateral actions by the US government and highlighted the importance of BRICS in creating a more balanced global system. According to Sachs, BRICS represents around 40% of the global economy and can act as a counterweight to unilateral economic and military decisions.
The economist also pointed to long-running geopolitical tensions linked to policies in the US and Europe aimed at maintaining their influence over the global order.
Global Economic Power Shifting Towards Asia
Sachs said the global economic centre of gravity is moving back towards Asia after a period in which economic power shifted away from the region following the 19th century.
He believes the growing economic strength of India and China reflects this broader shift, with Asia once again becoming a major centre of the world economy
