Shanghai Automotive has declared its intention to go from selling no cars to being one of the five or six largest car makers in the world. Within ten years they could be selling cars under the Rover brand for $119/month with zero down. This is just one example of the rise of the Chinese economy.

No economy has been dominant forever, so why do we believe that the US economy is any different? Oded Shenkar is one of the world's experts on China and the effect of its rising economic trajectory on the US economy. Shenkar, the author of The Chinese Century: The Rising Chinese Economy and Its Impact on the Global Economy, the Balance of Power, and Your Job, says that China will overtake the US as the world's largest economy within the next 20 years.

Thus the question isn't whether the US will remain the biggest, but whether it will remain the best. Britain faced a similar upstart economy in the 19th century. Their reaction was to say "let the Americans make our garments–we're making steam engines." That arrangement didn't last long. Soon the US was innovating, coming up with new ideas, and, ultimately, creating more jobs.

What will happen to the US and European economies as China comes into its own? We are in uncharted territory with no precedents. In this provocative presentation, Shenkar admits that there are a lot more questions than answers--challenging many of the comforting aphorisms that commonly surround this topic.

This talk was from the East Meets West session at Pop!Tech. The other speaker in this session was Rebecca MacKinnon.