Originally posted by Nemiro
Isn't the current economic growth taking place in India and China (and indeed many other Asian countries) very similar to the industrial revolution
that occured in Europe and North America during the 1800s to early 1900s? (may not be exact dates) Except this time they also have modern ("space
age") technology at the same time? Technically they're just modernising. It isn't like they'll just eclipse everyone else. (They'd have to
discover new technology first)
Yes, China is simply evolving economically, much like the US and Europe did. By 2015, china will either become a democracy, or it will suffer from
slower protracted growth rates not much faster than the EU and US.
China will not be taking over the world, probably ever. It will be a driver in the world economic outlook, but it will not be the main one.
With the new figures on economic indicators painting
China as a $5.33T (PPP) economy, which is down from the $10T PPP economy. So chinas economy is 40% smaller than we originally thought, India
experienced the same drop off.
We have been overestimating the red dragons economic situation for the past several years. And it seems, that china, from the revised GDP figures, is
much poorer to handle the domestic issues that will undoubtedly haunt the "would be" superpower.
India has a much brighter future than China does, as its economy is not totally reliant on the US and EU economy's (This is Chinas incompetence).
Chinas future outlook on growth is unsustainable, in contrast to Indias.
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