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China, India, and the United States: The Future of Economic Supremacy

China, India, and the United States: The Future of Economic Supremacy

Professor Peter Rodriguez Ph.D.
Darden School of Business, University of Virginia
Course No.  5892
Course No.  5892
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Course Overview

About This Course

6 lectures  |  30 minutes per lecture

You are living at a critical moment of change for the world economy. A moment that will be defined by the economic trajectories of three key players. A moment whose outcome will have a deep and lasting impact on the way you live. Recent years have seen a dramatic, unprecedented transformation in the landscape of the global economy. And the catalyst of this transformation—destined to create a new economic order that will scarcely resemble that of the last 300 years—is undoubtedly the rise of China and India. Both nations, which represent around 37% of the world's population, have experienced a rapid surge in annual economic growth of 7% to 10% in the last decade alone—a growth rate that is nothing short of miraculous.

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You are living at a critical moment of change for the world economy. A moment that will be defined by the economic trajectories of three key players. A moment whose outcome will have a deep and lasting impact on the way you live. Recent years have seen a dramatic, unprecedented transformation in the landscape of the global economy. And the catalyst of this transformation—destined to create a new economic order that will scarcely resemble that of the last 300 years—is undoubtedly the rise of China and India. Both nations, which represent around 37% of the world's population, have experienced a rapid surge in annual economic growth of 7% to 10% in the last decade alone—a growth rate that is nothing short of miraculous.

Just as important as this amazing story are its implications for the United States. Long seen as the central driving force behind the world's economy, the United States is emerging from the greatest recession in more than 80 years. For the first decade of the 21st century, its average per capita income growth was a paltry 0.53% per year. As China and India continue to gain a dominant foothold in the 21st-century marketplace, America's role in it will continue to evolve in unprecedented ways.

Knowing what to possibly expect from the future of the global economy presents an enormous opportunity for you to better prepare yourself for the momentous challenges and possibilities of tomorrow. Now you can, with China, India, and the United States: The Future of Economic Supremacy. This provocative six-lecture course, delivered by noted economist and award-winning Professor Peter Rodriguez of the University of Virginia's Darden School of Business, is your opportunity to preview what the next few decades of the global economy may look like. Offering you pointed looks at the economic past, present, and possible futures of these three powerful nations, these lectures will have you finally grasping the intricate nature of our world economy and the driving forces responsible for where it will stand in years to come.

Get Answers to Pressing Questions about These Economic Giants

In the last 20 years the incremental economic growth of China and India has been the equivalent of adding another United States to the world economy—and it could happen again in just 12 years, or even fewer. The implications of such a statistic demand to be better understood, and Professor Rodriguez's lectures are the perfect way to witness just how these three economies have gotten where they are today.

Central to this course are revealing answers to some of your most pressing questions about the current state of the global economy and its future.

  • How long will the United States remain at the top of the global economic ladder, and what will happen when that time passes?
  • What economic, political, and cultural forces are responsible for China's and India's spectacular growth over the last two decades?
  • When and why might China's and India's rapid annual growth rates slow down?
  • What strategies and policies can these three nations undertake to weather the current global recession?

Discover the Future of the 21st-Century Global Economy

In addition to bringing you up to speed with the economic stories of these three world powers, China, India, and the United States: The Future of Economic Supremacy also provides you with insights into the next decades of the world economy and the new economic order currently being forged. Throughout the lectures, Professor Rodriguez uses his keen economist's eye to report ideas, trends, and possible outcomes you can expect to see as China and India continue to reach (and possibly even supersede) the economic power of the United States.

Here are just a few of the many predictions and possibilities you'll explore in depth.

  • China's particular challenge to sustain solid economic growth, more so than the two other countries, will be highly political in nature.
  • India cannot rely solely on information technology to continue growing; rather, it must also achieve global prowess in manufacturing to truly strengthen its internal and external economic power.
  • The United States must reemerge as a global exporter and must retain its preeminent status in financial markets to ensure its near-term economic future.

Most important, you'll investigate how the great changes in the coming years will also bring with them a range of benefits and opportunities for each of these three countries. According to Professor Rodriguez, the coming decades of the new global economy will be a bumpy ride, but there is much to remain positive and hopeful about for the United States and the rest of the world.

Learn What to Expect—Before Everyone Else

In addition to being a skilled educator whose awards include Princeton University's Teaching Excellence Award, Professor Rodriguez possesses significant real-world business experience working with multinational companies, including Rolls Royce and Visa. This know-how, combined with his vast knowledge of global macroeconomics and international business, makes him an authoritative guide to this pressing subject and its implications for your future.

So join him for this chance to find out, before everyone else, just what to expect from the economies of China, India, and the United States. This course is a piercing look at the economic future being shaped right at this very moment.

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6 Lectures
  • 1
    The Narrowing Economic Gap
    Take an insightful look back at the dramatic economic histories of the United States, China, and India between 1961 and 2010—a period that offers a strong foundation for thinking carefully about what the global economic situation of the next 20 years may look like. In particular, explore the impact of such trends and programs as America’s post–World War II economic boom, Mao’s disastrous Great Leap Forward, India’s triumphant independence from Great Britain, and the paralyzing global recession of 2008. x
  • 2
    China’s Economic Miracle
    China’s recent economic growth is the most miraculous economic story in world history. But it’s a uniquely Chinese story that perhaps no other nation could have written. What about China’s culture and politics changed to produce such spectacularly rapid growth? Does the successful Chinese approach represent a new model for economic growth in other countries? How sustainable is this growth in the long run? Professor Rodriguez reveals the answers to these and other questions here. x
  • 3
    India’s Rise from Isolationism
    India’s economic growth, which emerged after decades of lost opportunities, is primed to earn the country a place among the most influential world economies of the 21st century. In this fascinating lecture, accomplish three main objectives. First, grasp the root causes behind why India’s economy was terrible for so long. Second, learn why India’s rapid growth is happening right now, and not decades earlier. And third, discover what India’s unprecedented economic success means for India—and for the world. x
  • 4
    The U.S. at the End of the Old Global Order
    Will the end of American economic supremacy mean the end of American prosperity? Make sense of this provocative question by charting the rise of American economic “exceptionalism” during the 1990s; investigate why the era of a U.S.-dominated global economy is ending and how the Triffin Paradox helps explain these reasons; and find out why this dramatic change may in fact be the only way to ensure America’s future prosperity and its ability to continue growing. x
  • 5
    Strategies for the New Economic Order
    The next decade will be an absolutely critical one for the future of the world economy. Using his keen economic and historical knowledge, Professor Rodriguez explores the future of America and China’s economic relationship; helps you make sense of the massive changes and challenges India faces in the coming years; illustrates specific steps that the United States can take to rebalance its economy; and demonstrates why the global recession of 2008 was, in actuality, a transformational moment. x
  • 6
    The Future of the Three Economic Powers
    Look further ahead and address the questions that loom the largest when thinking about the economies of America, China, and India. What can we expect from each of these three countries in the next 20 years? How will each country contribute, in its own distinct way, to the new economic landscape currently being formed? How ready are China and India to assume the power coming their way? And how influential will America continue to be in the new global economy? x

Lecture Titles

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Peter Rodriguez
Ph.D. Peter Rodriguez
Darden School of Business, University of Virginia
Dr. Peter Rodriguez is Associate Dean for International Affairs and Associate Professor at the Darden School of Business at the University of Virginia, where he teaches global macroeconomics and international business. The holder of a Ph.D. in Economics from Princeton University, Professor Rodriguez has also taught at both that university and at Texas A&M, as well as at universities around the world, including on the water as a faculty member of Semester at Sea. His broad experience as a teacher-which has produced awards for teaching excellence wherever he has taught-goes hand-in-hand with significant real-world experience in the realm of business, which has drawn on his skills as both an educator and a practitioner. Professor Rodriguez's private teaching engagements include work with the AES Corporation, Harris Corporation, Rolls Royce, and Visa, among other companies. He also worked for several years in the Global Energy Group at JPMorgan Chase, where his assignments centered on work for multinationals such as Royal Dutch Shell, Pennzoil, Apache Corporation, and Santa Fe Energy Resources. His current research interests include the interaction of globalization, economic development, and social institutions; the consequences of corruption for multinationals; and seed-stage finance in emerging markets.
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Reviews

Rated 4 out of 5 by 23 reviewers.
Rated 5 out of 5 by Great For Someone New To The Topic Except for having read the occasional statistics, I'm new to economies. The six lectures were highly informative for me: I learnt about the histories of China and India, and now a have a pretty good understanding of the world's top economies and about what economic supremacy means. Some others complained that the lecturer was repetitive. However, I think he was repeating himself for emphasis. Overall, I recommend the course to anybody who cares about money itself. The topic concerns everybody. It's remarkable, the amount of information you can learn in only 180 minutes. By the way, something new and interesting: already, October 2014 estimates have shown that China's rapidly-growing economy has overtaken the U.S.'s in terms of GDP (PPP). November 18, 2014
Rated 3 out of 5 by Sophomoric This course is not recommended for adults. I guess that trying to fit such a complex topic into 6, 30 minute lectures is an impossible undertaking. The Professor is very repetitious and could have done a much better job with the subject. He seems to be very "China-centric" and completely ignores China's demographic crisis: "China will grow old before it grows rich." The implications of this cannot be ignored and he does not even mention it. What effect will this have on the social fabric of China? I guess that Terminal 3 at Beijing's Airport (PEK/ZBAA) convinced him that China is destined for greatness. Did he happen to notice the incredible air pollution in the city once he left the airport? The air pollution in China, a country where the people have no ability to assemble, is another factor that will slow them down immensely, yet not even a mention. November 14, 2014
Rated 5 out of 5 by Good Overview of Relative Scope of the Economies The course is an excellent and timely look at where the US, China, and India have been and where they are going. It's not all bad news for the Americans. Professor Rodriguez has developed a logical and interesting course and has delivered it with an engaging style. If there is a gap, it's the other aspects of competition for international influence among the countries, particularly the US and China, but the focus is, and should be, on the economics. The most interesting aspect of the course for me was how the relative growth and size of these three economies were compared. The course is a good value for any lay person interested in learning more about a critical aspect of international economics that will affect the world in the coming decades. September 1, 2014
Rated 5 out of 5 by Excellent Course!!! I really enjoyed the class on China, India, and the United States: The Future of Economic Supremacy. I felt Professor Peter Rodriguez did an excellent job in presenting the material and drawing me into the course. His method of presentation made me really think about the subject matter and how i can use the information from the lectures in my field of work. August 31, 2014
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