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Global economic power shifting to Asia

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Published on Mar 22, 2012

It's no secret that a massive shift in global economic power is underway from West to East.

But the question is whether the old developed economies are ready for the consequences of the change.

The former World Bank president James Wolfensohn thinks not.

He also believes the time is rapidly approaching where the World Bank's top job should cease to be the exclusive preserve of the United States.

James Wolfensohn was keynote speaker at the Asia Society's annual dinner in Sydney.

He's speaking Jim Middleton.

http://australianetwork.com/newsline/

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