KARACHI, March 29: China and India might be next on the list to become superpowers. They have already attained “near-superpower” status in the world. And while the European Union (EU) is no less a competitor when it comes to economic stability as compared to the United States of America (US), it lacks the unified military strength that the US enjoys.
This was stated by former ambassador Zahid Hussain, during his lecture titled “Transformation of World Order” at the International Relations Department, University of Karachi, held under the aegis of the Programme on Peace Studies and Conflict Resolution.
Talking about the EU, he said that comprising 27countries, the bloc was economically much stronger and posed great threat to the US.
All 27 countries had softened their borders and had agreed to use Euro as the currency for the union. The only exception to this was Britain, which preferred using its own currency.
Describing the economic potential of various regions, he said that the European Union (EU) enjoyed the lion’s share as the world’s top producer and led the gross domestic product (GDP) chart with 31 per cent of the world’s total GDP (US$12.75 trillion), while the US had 28 per cent, Japan 11 per cent, China five per cent, and India two per cent.
Furthermore, he said that the EU had established itself as the highest exporter in the world and enjoyed 35 per cent of the pie (which means US$3.6 trillion). Whereas, the US exported 9 per cent, Japan 6 per cent and China 7 per cent.
He also supported his view that EU had a larger population than the US.
Apart from this he said that the United States’ unipolar attitude was questionable due its apparent failure of military action and foreign policy.
Shifting the focus of discussion to China, he said it had the potential to become a superpower only if it were able to make its huge population (1.3 billion), part of economic growth. India, Mr Hussain said, was second on the list.
However, poverty and population were two major hurdles in its way.
Though he did say that India’s progress in the information technology sphere could not be ignored.
Concluding his lecture he said the country that had nuclear power, economic resources and advanced technology could influence the world in the future. According to him, the major challenges the world might face would be pollution, water shortage and population.
He was presented a memento by Director of the Programme Professor Dr Moonis Ahmar at the conclusion of the event.
