India Rising, China Slowing Doesn’t Mean Modi Wins

Statistics bear out China’s global dominance. Since Deng abandoned doctrinaire communism in 1978, growth has surged an average of 9.8 percent annually. Since 2001, China has overtaken Italy, the U.K., France, Germany, and Japan to become the world’s second-biggest economy. Its $10 trillion GDP dwarfs India’s $2 trillion. Not only has China built the world’s biggest stockpile of foreign reserves, at $3.7 trillion; the country also accounts for one-third of the global total and boasts 10 times India’s amount. Even O’Neill acknowledges the imbalance: “If India grows by 8 percent for the rest of this decade and China grows by 7 percent, China will still create another three Indias before the decade is over.”

Read Here – Bloomberg

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