Actually, all the nations you spoke of are dependent upon one another. The EU was created to counter the economic might of the U.S., however, its weakness, one that will always shadow them, is that they are adrift without a true Constitution. The truth about globalization is that the consequences of not competing in a globalized economy are not always immediate and palpable; they take time but once they hit it will be swift.
There is no doubt in my mind that India and China will compete in terms of production. However, each country has settled into their own speciailzation of globalization. China has more people and has been manuafacturing longer. India's contribution to the globalized world is their contiuned success in back-office outsourcing, e.g., human resources, accounting, data banks, customer service, and software.
As for Russia. Russia's Economy: Huge natural gas reserves (world’s largest), coal reserves (second largest) and oil reserves (eighth largest), Russia plans to double its energy-export-dependent GDP in the next decade. Russia will only be an energy driven economy. This is what their president, Putin, has set them up for.
Countries to outsource to: India, Russia, Brazil, Mexico, China, and Korea. Countries have to improve telecommunications, roads, business laws, schools, facilities, etc. to attract U.S. and European businesses. Egypt is selling itself as low-cost specialist in European languages for call centers, Singapore and Dubai say their safety and legal systems give them an edge in handling high-security and business-continuity services. The Philippines draws on long-standing cultural ties with the U.S., it used to be a former colony of the U.S. South American countries use their expertise in Spanish to attract call-centers for the Hispanic market in the U.S. The big move is offshore locations within the same time zone. For U.S. that means Latin America! Where European companies are turning to Central and Eastern Europe, Middle East, and Africa.
For the last two hundred years, neo-classical economics has recognized only two factors of production: labor and capital. This is now changing. Information and knowledge are replacing capital and energy as the primary wealth-creating assets, just as the latter two replaced land and labor 200 years ago. In addition, technological developments in the 20th century have transformed the majority of wealth-creating work from physically-based to "knowledge-based.". Technology and knowledge are now the key factors of production. With increased mobility of information and the global work force, knowledge and expertise can be transported instantaneously around the world, and any advantage gained by one company can be eliminated by competitive improvements overnight. The only comparative advantage a company will enjoy will be its process of innovation--combining market and technology know-how with the creative talents of knowledge workers to solve a constant stream of competitive problems--and its ability to derive value from information. We are now an information society in a knowledge economy where knowledge management is essential. This page lists and rates Internet resources related to the field of knowledge based economy and knowledge management in the new information society. U.S. is slowly becoming a “Knowledge-based” economy; driven by ideas and innovation. Tangible investments appear to be quantitatively important.