Re:India's Chandrayaan-3 launches to explore moons water ric...
by alephnerd on Friday July 14, 2023 @02:50PM
(#36728266)
> Middle income trap is real. You do not grow like your teens and 20s in your 40s and 50s. Economies become big and complex
Very true. Economic growth is going to be rough for Mainland China for the next several years, but that doesn't preclude becoming a developed country eventually.
China today in 2023 is at roughly the same spot as Malaysia, Taiwan, and South Korea were in the 1980s-90s. All 3 countries became developed, but at different paces. For example, Malaysia only hit the developed country precipice in 2021 (0.8 HDI), Taiwan in the 1990s, and South Korea in 2000.
> India disappoints both its optimists and pessimists. It is a middling country with growth spurts here and there
Because India is incorrectly being compared with China. India is 15-20 years behind China because China opened their markets in 1973-1978, while India didn't conduct similar market reforms until 1992-1996. When factoring that 15-20 year lag, comparisons start making sense [1]
Very true. Economic growth is going to be rough for Mainland China for the next several years, but that doesn't preclude becoming a developed country eventually.
China today in 2023 is at roughly the same spot as Malaysia, Taiwan, and South Korea were in the 1980s-90s. All 3 countries became developed, but at different paces. For example, Malaysia only hit the developed country precipice in 2021 (0.8 HDI), Taiwan in the 1990s, and South Korea in 2000.
> India disappoints both its optimists and pessimists. It is a middling country with growth spurts here and there
Because India is incorrectly being compared with China. India is 15-20 years behind China because China opened their markets in 1973-1978, while India didn't conduct similar market reforms until 1992-1996. When factoring that 15-20 year lag, comparisons start making sense [1]
[1] - https://www.mitsui.com/mgssi/en/report/detail/__icsFiles/afi...