China, India likely to be global tech centres by 2035

Survey respondents believe self-driving cars will be more common in future

July 28, 2019

BEIJING: More than half of global business professionals, participating in a Bloomberg survey, agreed with the prediction that China and India would become the world’s centres of technological innovation by 2035.

Nearly 60% of the respondents in developing countries and 49% in developed countries felt that China and India would turn into global technology hubs in the decades to come, according to the Bloomberg New Economy Forum survey of 2,000 business professionals in 20 markets.

Many transitions are taking place in the global economic landscape including the economic gravity shift from the west to the east and from the north to the south as well as an incredible technological transformation, Bloomberg Media CEO Justin B Smith told a press roundtable.

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The survey showed that overall, emerging country business professionals had more optimism and markedly higher expectations for the role that technology would play in the decades to come than those in developed markets. Respondents in Asia believed self-driving cars would be more common than individually-owned automobiles by 2035.

Some 70% of Chinese respondents and 65% of Indian respondents agreed that self-driving cars would dominate the automobile market while 38% of the respondents in Britain and 36% in the United States disagreed with the prediction.

This article originally appeared on the China Economic Net 

Published in The Express Tribune, July 28th, 2019.

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