Martian2
SENIOR MEMBER
- Joined
- Dec 15, 2009
- Messages
- 5,809
- Reaction score
- -37
u can close your eyes. But I don't see any country close to US right now. China and India hold the promise, but its not not fulfilled. So better not to be complacent. The next 3 decades are the most important period.
Will India slip into the Fourth World?
You don't? Seriously?
China has an $8 trillion GDP for 2012. U.S. is at $15 trillion. Given the differential growth rates, China (8% growth + 3% average currency appreciation = 11% growth relative to the U.S.) is widely expected to surpass the U.S. economy (2% growth) within 10 years.
China's defense budget is $106 billion per year and it's growing at roughly 10% each year. The U.S. defense budget is around $600 billion (excluding extraordinary charges for wars) and it is about to be cut by $100 billion each year ($50 billion per year cut already agreed to and another $50 under sequestration starting in January 2013).
Also, Diamond_Gold is correct. China's economy consistently outgrows the Indian economy. I think this year China's growth will exceed India's by about 2%. At this rate, it will take an eternity for India to catch China. Certainly, not within our lifetime.
You Indians really should stop trying to compare pathetic India to China. China has electricity. 300 million Indians don't have ANY electricity. Also, the electricity goes out in large parts of India periodically. You guys are deep in the Third World and it's getting worse.
Your Indian currency keeps falling (e.g. it dropped 25% to 56 rupees per U.S. dollar in the last year). Also, your country and companies are heavily indebted at Greek-like levels. If you Indians don't slip into the Fourth World, it would be a miracle.