Now for some good news about America. Indeed, not only America, but all the English-speaking nations.
Though not quite the same thing as the Anglosphere, these have been tough times for the Anglo-Saxon model of capitalism. Combined with longer-term trends such as the rise of China, some commentators regard the Great Recession and its aftermath as the terminal phase of the era of Anglo-dominance.
But writing for City Journal, Joel Kotkin and Shashi Parulekar present a mountain of evidence to the contrary. For instance:
- "A little-noted fact these days is that the Anglosphere is still far and away the world’s largest economic bloc. Overall, it accounts for more than one-quarter of the world’s GDP… In contrast, what we can refer to as the Sinosphere—China, Hong Kong, Taiwan, and Macau—accounts for only 15.1 percent of global GDP, while India generates 5.4 percent."
But can this last? Obviously, the growth of the emerging economies – in itself a good thing for both us and them – will shift the overall balance. However, a series of key strengths will continue to give the English speaking nations a leading role. These include "overwhelming military superiority", "remarkable technological leadership" and "linguistic ascendancy."
But demographics may be the most important factor of all:
- "Between 2000 and 2050, for example, the U.S. workforce is projected to grow by 37 percent, while China’s shrinks by 10 percent, the EU’s decreases by 21 percent, and, most strikingly, Japan’s falls by as much as 40 percent."