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India-China 1-Can India overtake China

India-China 1-Can India overtake China - Can India's...

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Can India's economy overtake China? By Paranjoy Guha Thakurta Indian economic analyst Can the lumbering elephant overtake the hyperactive dragon? What appeared unthinkable for decades, if not for more than half a century, may actually happen soon, perhaps as early as next year. In 2010, the Indian economy may grow faster than that of China. What is more, experts contend that South Asia could expand at a more rapid pace than East Asia. While there is no dearth of sceptics who believe that China will continue to grow faster than any other major economy on the globe in the foreseeable future, there are others who contend that the trend growth rates of the two most populous nations could change and that India could march ahead of the Chinese economy just a little faster than many predict. The economy of India started accelerating from the early 1990s onwards as Delhi loosened bureaucratic controls over industry, trade and services China and India, accounting for roughly 40% of the 6.5bn plus people on Planet Earth, are not merely the two fastest growing major economies in the world at present, but are among the few countries that have continued to expand at a time when the economies of most countries have contracted. In the early 1950s, in terms of per capita income and levels of economic development, there was little to distinguish between China and India. Half the populations of both countries were mired
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