Re:How Canada became an education superpower
by kamaal on Thursday August 03, 2017 @04:14AM
(#14917854)
Growth in India is a result of plucking the low hanging fruit in the immediate aftermath of going from largely a socialist centrally planned economy to a sort of free market economy.
This process has been gradually unfolding over the past two decades, as we invite foreign direct investments and do away with many pointless regulations.
This sort of a growth has a upper limit which will be breached sooner or later.
Re:How Canada became an education superpower
by oblio on Thursday August 03, 2017 @05:23AM
(#14918117)
True, but that limit is:
a) not proven scientifically
b) around the point where Mexico or Brazil are (Mexico: $10k GDP per capita, Brazil: $8k, India: $2k)
India just by reaching Brazil's level can still grow its economy 4 times or more. At that point its economy would be something like 80% of the US one, based on sheer population volume.
And this is only one scenario, one where they fall into this "middle income trap".
At a rate of growth of 7%, from which India was not far off in the last 10 years, your economy doubles in 10 years. Let's say that it's a bit slower and it takes 12 years. This still means that India will double its economy by 2030. And unless they mess it up really badly their growth should keep going. Following more or less the Chinese model of using their huge scale to draw foreign investment.