Jeffrey D. Sachs is a University Professor and Director of the Center for Sustainable Development at Columbia University, where he directed The Earth Institute from 2002 until 2016. He is also President of the UN Sustainable Development Solutions Network and a commissioner of the UN Broadband Commission for Development.
The World Bank ’s release on May 30 of its latest estimates of national output offers an occasion to reflect on the new geopolitics. The new data underscore the shift from a U.S.-led world economy to a multipolar world economy, a reality that U.S. strategists have so far failed to recognize, accept, or admit. The World Bank figures make clear that the economic dominance of the West is over. In 1994, the G7 countries constituted 45.3% of world output, compared with 18.
Many of the emerging economies, including China, Russia, Iran, and others, are advancing rapidly in technological innovations as well, in both civilian and military technologies. China clearly has a large lead in the manufacturing of cutting-edge technologies needed for the global energy transition, including batteries, electric vehicles, 5G, photovoltaics, wind turbines, fourth generation nuclear power, and others.
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