China wants the world to believe its 'state-led development' has eradicated poverty. But as everything else with China, the reality is more complicated than what it seems.
With global output likely contracting 4.2% last year, China’s gains mean it increased its share of the world economy to 14.5%, according to World Bank.
China is set to report GDP increased 2.1% in 2020, the only major economy to have avoided a contraction. The country is now on course to pass the US as the biggest economy in 2028.
In its World Economic League Table, the Centre for Economics and Business Research expects India to move up the rankings to become the No. 3 economy at the end of the decade.
China's industrial output rose 7% in November from a year earlier, and retail sales expanded 5%. The data shows the breadth of the recovery since a contraction in output in Q1.
Market reforms introduced under China's top securities regulator since early 2019 include a flexible approach to pricing IPOs in Shanghai and Shenzhen among other changes.
China's focus on consumers is understandable as any percentage of some 1.4 billion people who feel poorer or have lost money can undermine social stability, priortised by the govt.
Premier Li said the country will not pursue a trade surplus, an issue that’s been a source a tension with US. China will maintain equal importance for imports and exports, he said.
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
One may debate whether the means justify the ends but the fact remains that their govt has moved hundreds of millions out of abject poverty, with a per capita being more than five times their Indian counterpart. India could have been way further along the path of development were it not for her making poor decisions, both economically and geopolitically, which she is now trying to remedy, or so it seems.
True, but the average Chinese is better fed, clothed than his Indian cousin, has access to superior education and healthcare. More likely to get a decent job. Only does not enjoy too much democracy.
One may debate whether the means justify the ends but the fact remains that their govt has moved hundreds of millions out of abject poverty, with a per capita being more than five times their Indian counterpart. India could have been way further along the path of development were it not for her making poor decisions, both economically and geopolitically, which she is now trying to remedy, or so it seems.
China has the potential, even though ideologically they are poles apart from the civilized world. Lots to learn, from them.
True, but the average Chinese is better fed, clothed than his Indian cousin, has access to superior education and healthcare. More likely to get a decent job. Only does not enjoy too much democracy.