India is bound to overtake China
Demographic change, strong institutions and geopolitics will work in New Delhi's favour
- By Michael A. Witt, Special to Gulf News
- Published: 00:00 May 25, 2010
- Taj Mahal in India. The World Bank ranks India 133rd out of 183 economies in terms of ease of doing business, while China is placed at 89th.
- Image Credit: Gulf News
When asked which animals symbolise China and India, most people would say the dragon and the elephant. In terms of long-term economic prospects, however, the hare and the tortoise may well be more appropriate choices. While India has been moving more slowly than China, there is a distinct possibility that over the next decades, we may see it catching up and, ultimately, pulling ahead.
Most will find this far-fetched. After all, China has been winning the race hands down. Adjusted for differences in purchasing power, China's GDP is more than twice that of India in total size and about twice as large per capita. China has been far more successful in lifting people out gulfnews : India is bound to overtake China
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