James Wolfensohn (Former World Bank President) Says There Is A Big Shift Coming
"James Wolfensohn, former president of The World Bank and CEO of Wolfensohn and Co., addressed Stanford Graduate School of Business students with details about his work at the World Bank during its transition years and how the equation between developed and developing countries is changing. Wolfensohn claimed that in the next 40 years, a global power shift will see today's leading economic countries drop from having 80% of the world's income to 35%."
"By 2030, two-thirds of people in the world's middle class will be Chinese, Wolfensohn said. "These are not trivial changes -- they are tectonic changes in the way the planet works. In my generation we didn't have to think about it. We knew we were a rich country."