Global Engineering and Sustainability- The growing importance of India and China, Part 2

Several recent economic reports also suggest that by 2013-15, India will start outpacing China’s stunning annual GDP growth rate of 8.5-9.5%. A number of trends in India lead to this conclusion – its young, increasingly educated labor force, relatively few retired people to care for, its high savings rate, increased infrastructure spending and massive structural reforms the Indian government is continuing to undertake.

In our whitepaper entitled Global Engineering Cultures3 we have made the case that the engineering profession uses regulatory and licensing systems since the late eighteenth century have derived from an economic order dominated by imperial industrial, economic and political roots. At present China and India are restoring the positions they held two centuries ago when China produced approximately 30 percent and India 15 percent of the world‘s wealth. China and India, for the first time since the 18th century, are also set to be the largest contributors to worldwide economic growth.