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March 30, 2004
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Elephants
China's economy dominates headlines and political debate (even if much of the worry about outsourcing is just plain wrong). However many seem to forget there's a rival clipping at China's heels, India. Most interesting is this assessment: Even by 2050, China's GDP per head will still be half that of Britain, and less than 40 per cent of the United States. India's will be less than 30 per cent and 20 per cent of Britain and the United States respectively.That has profound implications both economically and politcally for the years ahead. To put it in perspective, Singapore's GDP per person is about 20% lower than the US at the moment. The US GDP per person sits around US$34,000, India's at US$2,570 (using PPP). A few percentage points of GDP growth in the US is a benefit. The same in China or India will literally drag millions out of poverty. That's worth watching. posted by Simon on 03.30.04 at 03:38 PM in the
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Comments:
Drag them out of poverty kicking and screaming - well, not really - into the middle class. With disposable income. Massive boost to the world economy. posted by: Pixy Misa on 03.30.04 at 10:12 PM [permalink] |
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