India's economy will not converge with China's

Morgan Stanley Asia Chairman, Stephen Roach, thinks India's economy will not converge with China's in the upcoming years.

Category:

News & Politics

Tags:

• China
• india
• economy
• development centre
• oecd
• asia

[Chris8282]

@RpgMakerVXTutor From America, good luck to you all!

[reallysecretusername]

@TheBonnerking losing living standards? you realize that they're a hell of a lot better off now than before, right?

[TheBonnerking]

@Sasukekillsitachi

China deserves to boast on its progress but not at the cost of loosing its values and living standards.

I dont kno if India has come this far surfing on the wave of perpetual criticisms from our people about Corruption etc but i kno fr a fact it could have been much worse.(eg- Pakistan)..

And about the Single party rule ---> grow up u dummy and Understand Diplomacy and politics . don't go about flaunting ur Ignorance.

[TheBonnerking]

@stealthpakfa

its 6.5 btw and the value comes to Aprox 6 trillion.

India opened its Economy 15 years after China...The period when Brucelee wus making movies in America India wasn't even herd on the world scale. FDIs were not even considered , as India was weary of the outside Word due too the bad memories of the British Raj era and concentrated on self sustenance. It is only when a full generation later NRI(non resident Indians)started investing back home did we capitalize on this source.

[Sasukekillsitachi]

India suffers from corruption, and democracies are harder to grow, it is better for our India to change to single-party rule, its get things done much faster than democracy.

[stealthpakfa]

@silver4883 india has alot more corruption than china and democracies make it harder to grow fast as votes are needed to do certain things. china dont need to worry about opinions of others to do something, it gets done quickly.

[stealthpakfa]

@rodriquz u forget that chinas currency is undervalued by atleast 40%-50%, which means its gdp is also undervalued by that same amount.

chinas currency exchange rate should be 4 yuan per dollar.

chinas current gdp size is 40 trillion yuan.

so 40 trillion / 4 = $10 trillion

that is chinas true US dollar gdp if chinas currency is valued properly like indias currency.

[stealthpakfa]

@silver4883 high wages when u are a producing nation means domestic consumption and thus higher living standards.

[silver4883]

The generally acceted version is 17 years, the simple point i was making is that china has a great economy today. if india catches up with even todays china that isa good acheivement 17 years is not a long time. if the chinese growth rate drops due to higher wages and they become relatively less competitive then india's relative undersdevelopment may actually come into play for a competitive advantage

[rodriquz]

@silver4883 17 years?? U have a very conservative thinking.t is actually 10 years.What was China's GDP in 2000? It was 1.2 trillion USD.What is India's GDP in 2010? Is is 1.3 trillion USD.What is China's GDP today? Its 5 trillion.What will India's GDP in 2020? According to most forecasts it will be like 6 trillion USD.So even if u still remove 1 trillion USD for conservative reasons, u still have India reach where China is today in 10 years.