"So economic crystal ball-gazing remains unscientific. The trend is the forecaster's friend. Extrapolation assumes that the future will be like the past, only more so. We project current preoccupations - the rise of China and India, global terror, climate change - with exaggerated speed and to an exaggerated degree." John Kay
A lesson that I hope many economists and business professionals could internalize especially in regard to assumptions about China's inevitable growth at the same pace as today.
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