Trump's next trade war target: India
🧐
If he lives that long.
Yeah we are poor country thats a reality.
True India is very poor today, however I am hopeful for 10-20 years in the future. People forget the state of China 20, 30 years ago before their economy opened.
I can see how China is so high with the real estate boom and ghost town real estate flipping. Build a complex, finance it to the bank, rinse and repeat. The actual GDP has a lot of fluff on the real estate financing and building in it.
Purchasing power matters
It will be a 5T economy soon. Good days ahead. 😁
India is actually 100~200 years behind China. 200 years ago, China had an elite class who were very capable. It took them 3 generations from no western education at all to producing multiple Nobel laureates (it took India hundreds of years to get the same number of Nobel laureates from within British empire.). They owned all the land, they only married each other. 80% people in China was hopeless. Chinese army was armed with foreign imported weapons but no enough refill ammunition. Chinese navy had made in Germany big ships but didn’t care to keep it clean. That’s today’s India.
India opened up its economy about 10 years after China... So it makes sense that it's lagging in 10 years of compounded economic growth (which is very fast in a free market developing economy). India is currently growing at slightly more than rate of China, so it will possibly catch up in another decade or two. This picture is also nominal rather than PPP GDP numbers, which exaggerates the difference. I'm not sure there is currently a 5x difference of standard of living between China and India. PPP numbers suggest the difference is more like 2x or 3x.