disagree with many and totally with F'man :)
a country's economy excels not because of its labor is 'cheap' but because it has "Innovation" which comes through good education, sound social conditions etc.; thats why economic growth is always clubbed with all other eelated growths, military, sports, other societal growths...
cheapest labor is in Bangladesh so does it make B'desh economic powerhouse??
when rest of the world was fighting with arrows guys in Europe were discovering dynamite...see in 16-19th century almost all innovative ideas came from Europe (they ruled the world too), 19th century onwards almost all inventions come from US, ......future is always OPEN to anyone to dare to dream BIG, equipped with latest knowledge.....
for sure its not Europe & US...., I bet it's chinese followed by Indians