Will India become the world's second largest economy? The first is who speaks for themselves, Goldman Sachs gives the time
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发表于 2023-10-25 14:01:21
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How bold a person is and how productive the land is, whether one has the courage or not, it still depends on India. India, as a neighbor of China, has always been secretly competing with China, not only in terms of population, but also in every field. And India has also announced that it will become the world's second largest economy in the future.
As the second largest economy, India is not sure if it is implying to surpass China or the United States, but currently, India wants to surpass and replace China. But will all of this really come true? Currently, India has only surpassed China in terms of human resources. Can India really surpass China in the future?
Will India surpass China's economic scale?
India has always dreamed of becoming the second largest economy, but can the Indian dream really come true?
Earlier this year, Goldman Sachs, one of the world's largest investment institutions, issued an article stating that India will become the world's second largest economy in the future, and Goldman Sachs also provided a specific time frame, which is in 2075.
If calculated according to the current time, Goldman Sachs believes that India will become the second largest economy in 52 years, which can be said to be a dream for half a century.
It is still possible for India to become the second largest economy in half a century. After all, according to the current pace of economic development in India, there is a great opportunity for India to achieve success in the future.
And we know that India is currently in a demographic dividend stage, and its economic growth rate is not low. And at one point, it surpassed its suzerain, Britain, to become the world's fifth largest economy.
If India continues to develop at the current pace, it is still very likely to surpass Germany and Japan in the short term. After all, Japan and Germany have a downward trend, but as long as India continues to develop, it will also replace Japan's position in the future.
Getting third place is just around the corner, but can India really get second place?
We know that China and the United States are basically ahead of other countries around the world, and even after China and the United States, other countries are in a fault structure.
And currently, the United States is around 25 trillion yuan, China is around 17 trillion yuan, and even Germany and Japan, ranked third and fourth, are only around 4 trillion yuan. Therefore, in order for India, which is around 3.4 trillion yuan, to achieve the second place, the economic scale needs to be increased by about five times on the basis of China's immobility.
It can be said that India still has a long way to go to achieve the second place. After all, China and the United States have not stopped waiting for India, let alone the GDP growth rate of China and India is basically not much different.
So I think it's still difficult for India to surpass China, but India still has the opportunity to become the world's second largest economy.
And this economy may not surpass China, but the United States.
Can India's economy achieve second place?
As the world's most populous country, it is entirely possible for India to become an important force in the world economy in the future, and it is also entirely possible for India to become the world's second largest economy, perhaps replacing the position of the United States.
India has always regarded China as the object of comparison, and there is not much difference in population size between the two countries. However, the most important comparison India should make is with European countries.
Because China has significant differences in all aspects except for its similar population size to India.
And we know that India used to be a British colony, so India retains some of the characteristics of Britain in many ways, especially in terms of arrogance.
In our country, there has always been a saying that if you fall behind, you will be beaten, and if you are inferior, you will learn instead of being arrogant. But India, on the contrary, thinks it's superior, but there are still huge gaps in many aspects.
India used to be a country that started with China, and as a member of the Commonwealth, India naturally had advantages. It was also a focus of attention for the Soviet Union and the United States. However, as we all know later, India's basic situation remained unchanged except for a significant increase in population.
As a reference object, China has been a revolutionary country in the industrial field. In just 70 years, the military has crossed three industrial revolutions, while India is still patching up the gaps in the three industrial revolutions.
It can be said that India has fallen behind.
But there is still hope for India to become the world's second largest economy, and this hope does not come from China, but from the United States.
We know that the United States is now a financial country, and everything is basically supported by the US dollar. If the US dollar collapses, it is not clear whether the United States is the United States. Moreover, the current situation of social fragmentation in the United States already indicates that there is a certain possibility of future division in the United States.
And this is an opportunity for India. And this opportunity is not about how strong India is, but about how weak its former opponents have become. To achieve all of this, we still need to rely on China to help.
03 Cooperation is the Future
The hope for India to become the second largest economy lies not in India but in China.
It is even more difficult for India to surpass China, but for India to become the second largest economy, there is still hope, after all, as long as the United States declines, India still has a chance.
And this hope does not lie in India, but in China.
Currently, China and the United States are in a state of confrontation. Whoever becomes the first in the future represents who will achieve the final victory in this competition between China and the United States.
For India, if the US confrontation fails, there is still a good chance that India will take second place. If China temporarily falls behind, then India may be the third in a thousand years.
After all, it is almost impossible for India to surpass China. Because India needs a thorough revolution to surpass China, starting from various aspects such as land and system, and India needs to complete the journey of the three industrial revolutions again.
Can India still do it now? Moreover, the global climate agreement has already imposed a curse on India, so India has lost the opportunity. And the only hope is to cooperate with China.
As neighbors and a populous country, China and India are complementary in many aspects. Moreover, after China's industrial upgrading, outdated production capacity and manufacturing industries will shift, which is a huge opportunity for India.
Moreover, in this century long upheaval, India can only secure a place in the future through cooperation with China, as for European and American countries, they can no longer tolerate the emergence of another China.
Rather than hoping to surpass us in achieving second place, India should cooperate with China to overthrow the reality of the United States achieving second place. So, the way out for India lies in letting go of arrogance and prejudice and strengthening cooperation with us.
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Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
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