From another point of view, the data proves that India is ahead, and its GDP growth in 10 years has surpassed that of China
Revisiting the data: 10 years of economic growth between China and India
Looking back over the past decade, the world's attention has been focused on the rivalry between India, Asia's two largest economies, and China. In 2014, when the world's eyes were focused on this "Asian Tiger Battle", the GDP figures of the two countries looked like this:
- India's GDP: $2.04 trillion
- China's GDP: $10.48 trillion
And in 2023 (data for 2024 has not yet been released), the latest data on the GDP of the two countries are as follows:
- India's GDP: $3.75 trillion
- China's GDP: $18.50 trillion
Now, the eyes of the world have turned to China and the United States, predicting a fierce contest between the two.
India's leader, Narendra Modi, has set a goal: to build India into a $5 trillion economy by 2029.
Should we judge the economic growth of the two countries only on the surface of the numbers?
In fact, this is despite India's GDP growing by 83% over the past decade, while China's growth is only 76%. But when we dig deeper, we see that the comparison is not entirely fair.
The reason is that India has a low starting base of only $2.04 trillion. This is partly due to the discouragement of private investment by the policies of the Congress party.
Therefore, when we evaluate the economic growth of the two countries, we should not only start from the percentage of growth, but also take into account multiple factors such as the starting base, economic policies, and the international environment.
In this way, we will be able to have a more comprehensive understanding of the true face and development potential of the economies of the two countries.
Netizen Mahesh pointed out:
Although both India and Bangladesh have increased in GDP per capita, the gap between the two countries remains significant.
In 2023, India's GDP per capita jumped to $2,610, while Bangladesh's GDP also rose to $2,646.
While this growth is encouraging, the economic gap between the two countries remains unnegligible.
Indian Sathya:
In 2004, India's share of China's GDP was as high as 37%, but by 2014 that share had plummeted to 19%.
This change shows that compared to China's economic growth rate, India has spent money recklessly during this time, which has ultimately thrown the Indian economy into chaos and slowed the pace of development.
Another Indian netizen Maverick:
Rather than focusing on India's own growth, the focus should be on changes in India's share of China's GDP.
The data point out that China's per capita GDP tripled between 2004 and 2014, rather than the higher multiples mentioned earlier.
网友Rajkamal表示:
Prime Minister Modi may claim that by simply giving us 400 parliamentary seats, we have the power to shape India into a world superpower in 500 years' time.
He might point to Pakistan and Afghanistan and say, "Look at them, give us another five years, and I promise we'll catch up!"
网友chandramurthy则提醒道:
"We need to be extra careful when mentioning Bangladesh so as not to upset them. ”
He further questioned: "Sir, after 10 years of development, India's GDP has always been only equivalent to about 20% of China's GDP. Can you explain to us what the reason behind this is?"
Netizen Advik also made a similar point:
In the 67 years from 1947 to 2014, China's GDP grew to a staggering $10 trillion, while India's GDP grew to just $2.04 trillion. This is a question worth pondering.
印度人Srivastava表示:
Until the beginning of the 80s of the 20th century, the mainland's GDP was ahead of China. Our free-market reforms are 13 years behind China's.
Just as we were planning to double our GDP every eight years, economists on the mainland introduced a policy of demonetization, which undoubtedly hindered the mainland's economic growth.
The Indian Mysterious, on the other hand, argues:
There will be no opposition in China to slander the image of its own country in the international community, and these are India's own shortcomings.
印度人ModiCarrier指出:
2013 was the last year of Congress rule, when the continent's GDP was $1.8 trillion.
And by 2023, India's GDP has reached $3.7 trillion.
It can be said that it took 60 years for the Congress Party to bring India's GDP to $1.8 trillion.
Prime Minister Narendra Modi has doubled that number in just 10 years, which is undoubtedly a huge achievement.
Write at the end:
These discussions illustrated the complex relationship between India and China in terms of economic growth and development. Despite challenges and controversies, both countries are striving for greater economic competitiveness and global status.
These topics not only attract the attention of Indians, but also give us a deeper understanding of the economic dynamics and interdependence between the two countries.
Do you think that the economic growth rate of China and India is really as the Indians say?