China will soon possess the world’s largest economy, and cultural influence will follow economic power. Martin Jaques argues in his book ‘When China Rules the World’ that this change will shape the next century. But what does it mean for the future of Buddhism?
What is the most significant development in the world over the last three decades: the end of the cold war? The clash between the West and militant Islam? Economic booms and crashes? Martin Jacques’ answer is the rise of China, which has quietly gathered momentum since 1978. When China Rules The World: The End of the Western World and the Birth of a New Global Order argues that, sustained by a population of 1.3 billion, China will be the dominant power of the 21st Century.
When this book’s first edition appeared in 2008 reviewers doubted its prediction that the China would overtake the US and become the world’s largest economy in 2027. But when developed economies stalled after 2008 China’s economy continued growing at 9-10 percent a year and the date when China is expected to take the lead is now 2018. We daily read of Euro-zone leaders imploring China to fund bailouts and the US dollar being saved from depreciation by Chinese-owned Treasury Bonds. Power is flowing from west to the east: welcome to the future.