As measured by IMF’s PPP index, China economy #1, US #2

From the article:

This will not change anything tomorrow or next week, but it will change almost everything in the longer term. We have lived in a world dominated by the U.S. since at least 1945 and, in many ways, since the late 19th century. And we have lived for 200 years — since the Battle of Waterloo in 1815 — in a world dominated by two reasonably democratic, constitutional countries in Great Britain and the U.S.A. For all their flaws, the two countries have been in the vanguard worldwide in terms of civil liberties, democratic processes and constitutional rights.

Think also of other second and third-order consequences of Western hegemony the past century, particularly on business and management.  For example, early management science arguably started during the West’s industrial age.  Even more specifically, take project management.  The humble PERT chart was an indirect result of Western primacy (it was an offshoot of the US Navy’s Polaris submarine program in the 1950’s).

So, how extensively will continued Chinese and other Eastern growth, and likely primacy, trickle down to affect business and management practices elsewhere?

It’s official: America is now No. 2 – Yahoo Finance.

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