India-China Cooperation: A Potential Game-Changer for Asia and the Global Economy

Former Goldman Sachs Chief Economist Jim O'Neill believes that greater economic cooperation between India and China could transform Asia and the global economy, giving substance to groupings like BRICS. To achieve its goal of becoming a middle-income economy by 2047, India needs sustained 8% growth and reforms in labor force participation, agricultural productivity, and education. O'Neill also argues that tariffs are an ineffective way to address trade imbalances and that the dollar's dominance may eventually be challenged by the rising economic weight of China and India.