DEMOGRAPHIC AND ECONOMIC EVALUATION AMONG USA, CHINA AND INDIA

Current population of China is 141.72 Cr.(Current population of India is 143.81 Cr) If we look back the population of China was 552 million in 1950, 91.64 cr in 1975 and 126.26 cr in 2000.(During the same period Indian population was 359 million, which makes 65%  in 1950, 61.13 cr which is 66% in 1975 and 105.79 cr which is 84%  in 2000) The population of USA in 1950 was 15.13 cr, 1975 21.6 cr, in 2000 it was 28.14 cr and the current population is 34.01 cr (2024).

When we look at the wealth status of China, their GDP in 1950 was around $40 billion (at the current dollar value), in 1975 it was around $273 billion and in 2000 it was around $1.2 trillions. During the same period the GDP of India were, in 1950 approx $22 billion (in 1990 PPP dollar), in 1975 approx  $98 billion (current US dollar) and in 2000 it was around $480 billion.

Now let us find the GDP of USA from the year 2005 and a comparison with the Chinese GDP for the same period.

GDP of US

2005 $13,037 bn

2010 $14,992 bn

2015 $18,295 bn

2020 $ 29,807 bn

2024 $ 29.017 tn

Average growth rate from 1947 to 2024 is 3.21%

GDP of China

2005 $2.29 tn

2010 $9.26 tn

2015 $11.0  tn

2020 $14.86 tn

2024 $18.28 tn (approx)

Average growth rate from 1989 to 2024 is 8.81%

GDP of India at current US dollar in the same above shown years are:

2005 $785 bn

2010 $1.4 tn

2015 $2.1 tn

2020 $2.7 tn

2024 $3.8 tn(approx)

3.015 is growth rate.

(Indebted to World Bank Data)

Let us now try to find whether India can overtake the Chinese in GDP in coming years. Through loudspeakers we have been doing this overtaking for quite sometime. In practical sense we may not do this in coming decades. As we have discussed time and again wealth of a country is determined by two characters like natural resources available and the manpower available to exploit those in the country. As per available information China has abundance and variety of natural resources than India's possession. However India has now slight edge over China in competent man power. Despite these, the large amount of unchecked corruption in our country does not allow to use advantageous factors appropriately. And the way things are developing for the past few decades, corruption may continue here. Our people have adjusted themselves to this. Until our people may strongly resist this it may not have any end.

If India wants to reach the front row of the economic leaders of the world, we should not give undue significance for politics and religion and must put allout efforts to eradicate corruption from the country. And also there should not be a single family below poverty line.

(Indebted to various web sources for data)

K V George