He was right to be worried. Russia is now a minor player, and the race seems now to be mainly between the United States and China. But don’t count out the European Union just yet; the EU is still a fifth of the world economy, and it has underappreciated strengths.
Technological leadership will require big digital investments, rapid business process innovation, and efficient tax and transfer systems. China appears to have the edge in the first, the U.S. in the second, and Western Europe in the third. One out of three won’t do, and even two out three will not be enough; whoever does all three best will dominate the rest.
We are on the cusp of colossal changes. But you don’t have to take Mr. Putin’s word for it, nor mine. This is what Erik Brynjolfsson, director of the MIT Initiative on the Digital Economy and a serious student of the effects of digital technologies, says:
“This is a moment of choice and opportunity. It could be the best 10 years ahead of us that we have ever had in human history or one of the worst, because we have more power than we have ever had before.”...<<<Read The Full Article Here>>>...