- Registration time
- Last login
- Online time
- 436 Hour
- Reading permission
----India should be overtaking China in 2020|
India's GDP growth has come in at a strong 8.6% during the quarter ended March 2010, although this has failed to cheer the markets. (That’s true)
Following are the excerpts from an Indian’s posted blog:
India should be overtaking China in 2020 according to many analysts of India. In the past decades, India has been the world’s number one in starvation deaths, foreign aid and bribery.
In the 2000s, it was transformed from a chronic under-performer to a potential superpower. Here are eight predictions of what it will look like in 2020. India will overtake China as the fastest-growing economy in the world. China will start ageing and suffering from a declining workforce, and will be forced to revalue its currency. So its growth will decelerate, just as Japan decelerated in the 1990s after looking unstoppable in the 1980s. Having become the world’s second-biggest economy, China’s export-oriented model will erode sharply — the world will no longer be able to absorb its exports at the earlier pace.
Meanwhile, India will gain demographically with a growing workforce that is more literate than ever before. The poorer Indian states will start catching up with the richer ones. This will take India’s GDP growth to 10% by 2020, while China’s growth will dip to 7-8%.
India will become the largest English-speaking nation in the world, overtaking the US. So, the global publishing industry will shift in a big way to India. Rupert Murdoch’s heirs will his collapsing media empire to Indian buyers. The New York Times will become a subsidiary of an Indian publishing giant.
In the 2000s, India finally gained entry into the nuclear club, and sanctions against it were lifted.
By 2020, Indian companies will be major exporters of nuclear equipment, a vital link in the global supply chain. So, India will be in a position to impose nuclear sanctions on others.
Islamic fundamentalists will take over in Afghanistan and Pakistan. The US will withdraw from the region, leaving India to bear the brunt of consequences. Terrorism will rise in India, but the economy will still keep growing. How so? Well, 3000 people die every year falling off Mumbai’s suburban trains, and that does not stop Mumbai’s growth. Terrorism will bruise India, but not halt its growth.