Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
- Messages
- 33,932
- Reaction score
- 52
- Country
- Location
GDP(Nominal)- China---------India
$0.5 Trillion---1994---------2002
$1 Trillion-----1998---------2007
$2 Trillion-----2005---------2013[E]
We are just 8-9 Years behind
This is wrong, because it assumes that India will grow as fast in the next decade as China did in the past decade.
For reference, in the past decade we grew extremely fast. For example 2007 we had a real GDP growth rate of 14.2%. (Compared to India today which only has a real GDP growth rate of 4.5%).
And here is a reference from the Economist:
Comparing India and China: Chasing the dragon | The Economist
Moreover, the chart does not necessarily imply that India in nine years' time will be as rich as China is today. That is because China grew faster in the last nine years than India is likely to grow over the next nine.
If you can't match our growth rates in the past decade, you can't repeat what we did in the past decade.
In addition, one dollar today is worth far less than one dollar was worth ten years ago. Due to inflation.