TIGER ECONOMIES ARE SNAPPING AT US HEELS
But it's not clear whether Beijing or New Delhi will catch up first
Richard Wachman
The Observer, May 4, 2008
China and India and are moving toward becoming the biggest economies in the world: with 2.4bn people, or 40 per cent of the world's population and annual GDP growth rates of between 8 per cent and 10 per cent, experts say that they could one day overtake the US.
Professor Pieter Bottelier, of the Centre for Strategic International Studies, says: 'If these two countries continue to grow at the current rate, they will overtake America, although that probably won't happen for a number of decades.'
The countries are very different politically: India is the world's biggest democracy, but China is under tight communist government control. Economically, China has had a head start. Bill Emmott, former editor of the Economist, says in his book 'Rivals' that India's time has yet to come; to date it has been constrained by a poor infrastructure, social divisions, a caste system and mind-boggling poverty. But it is fast making up for lost time and no doubt Emmott wouldn't disagree with Steven Roach at US investment bank Morgan Stanley that 'India is on the cusp of something big'.
(...) [artículo aquí]
But it's not clear whether Beijing or New Delhi will catch up first
Richard Wachman
The Observer, May 4, 2008
China and India and are moving toward becoming the biggest economies in the world: with 2.4bn people, or 40 per cent of the world's population and annual GDP growth rates of between 8 per cent and 10 per cent, experts say that they could one day overtake the US.
Professor Pieter Bottelier, of the Centre for Strategic International Studies, says: 'If these two countries continue to grow at the current rate, they will overtake America, although that probably won't happen for a number of decades.'
The countries are very different politically: India is the world's biggest democracy, but China is under tight communist government control. Economically, China has had a head start. Bill Emmott, former editor of the Economist, says in his book 'Rivals' that India's time has yet to come; to date it has been constrained by a poor infrastructure, social divisions, a caste system and mind-boggling poverty. But it is fast making up for lost time and no doubt Emmott wouldn't disagree with Steven Roach at US investment bank Morgan Stanley that 'India is on the cusp of something big'.
(...) [artículo aquí]
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