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Approaching the New Economic Landscape > Approaching the New Economic Landscape - Pg. 254

254 IN THE SHADOW OF THE DRAGON products manufactured in China are not only less expensive but also often just as good or better than those being produced in the West. Both China and India are not so much emerging economies as they are reemerging economies. In the early half of the 19th cen- tury, the economies of China and India accounted for more than half the world's wealth, while Europe accounted for less than 40 percent. Meanwhile, input from the United States was only begin- ning to be taken seriously. The failure of China and India to adjust to critical changes in modern technology and the way the global economy was actually working led to both countries succumbing to the surging force of colonialism coming from the West, resulting in their eventual destruction. It is a historical fact that the Chinese have not forgotten. The reemergence of China and India is once again creating a sudden change in both the landscape and the rules of the game for