Comparison of Economic Growth between China and India

GDP: In 2003, China's total GDP was 1.08 trillion US dollars, ranking sixth in the world, while Indian GDP reached 479.404 billion US dollars, ranking 12 in the world. According to PPP calculation, China's GDP in 2043 was US$ 4,966 billion, and Indian GDP was US$ 2,432 billion. In 2004, the per capita GNP of China was US$ 4,329, while that of India was US$ 2,464. 1990-2000, the average annual growth rate of GDP in China was 10.3%, and that in India was 6%. India has fallen far behind China: March 2005/1 1 Source: The Economist published an article comparing the development of China and India on March 5, with the main title of "Great Gap" and the subtitle of "If this is a race, then India has fallen behind by one lap". The abstract of the article is as follows: The gap between cities is obviously several years apart. If you revisit Beijing or Shanghai, you will be dazzled by the changes in front of you. After leaving the new airport, the new expressway will take you into the city. From time to time, some new high-rise buildings appear on the roadside, and the previously familiar buildings seem to disappear into the concrete jungle. Some parts of China may have experienced the biggest construction peak in history. Going back to Delhi or Mumbai is a bit frustrating, but nothing has changed. The only change at the airport is the improvement of the queuing system in the crowded arrival hall. Even at night, the roads leading to the city are seriously congested, and the sign "Please honk" is printed on the trucks. On the road of traffic jam, disabled people and young mothers with babies beg through the window. There are also some new buildings or new roads, and a brand-new subway has appeared in Delhi. However, just like the neighboring countries are changing with each passing day, India has hardly changed from the outside. It is difficult to measure this difference. Indians say that China's statistics are fabricated by local officials to impress their superiors, and these statistics are unreliable. However, in a broad sense, the trend shown by these statistics and the problem they explain-China's overtaking Indian are reasonable and in line with the witnessed facts. Opposing statistics is just a way for Indians to deny that China has surpassed India. Many Indians are impatient, thinking that foreigners only see the backward side such as airports and beggars, but they can't see many achievements India has made, including the recent rapid economic development in India. Even some foreigners can't stand it. I don't know why those foreigners should look at India's achievements through this inefficiency and poverty, and how their hosts have long sought development under this background of inefficiency and poverty. The changes in China provided them with weapons to defeat the Indians. In the past ten years, China's GDP has grown faster. But there are beggars in China, and the data gap is a recent phenomenon. In terms of purchasing power per capita, China's gross domestic product (GDP) only surpassed that of India in the early 1990s. Since then, both economies have experienced rapid growth. India's GDP grew at an average annual rate of 5.6% in 1980s, from 199 1 to 5.8% in 2003. China's growth is comparable, but the starting point is much higher, with an average annual growth rate of 9.3% in 1980s, and 199 1 9.7% in 2003. As India's population growth rate is much higher, the per capita GDP gap has become even wider. 1990 During the period from 2003 to 2003, China's per capita GDP increased by 8.5% annually, while Indian GDP only increased by 4%. Therefore, in 2003, China's per capita national income-converted at the current US dollar exchange rate-was 1 100 US dollars, while India was only 530 US dollars. Given that the two countries were roughly equal not long ago, this gap is surprising. After purchasing power adjustment, China's wealth is 70% higher than Indian's. Angus Madison, an economic historian who studies the situation of the two countries from the perspective of "Millennium", believes that China was slightly richer than India two centuries ago, but it has been poorer than India for most of the time since then. At the constant price of $65,438+0,990, the per capita national income of India increased from $533 in 65,438+0,820 to $673 in 65,438+0,965,438+03, while that of China decreased from $600 to $552. By 1950, India's per capita national income is 6 19 US dollars, while China's is only 439 US dollars, although in absolute terms, China's share of global GDP is still ahead of India's. Every decade since then, China's GDP per capita has grown faster than that of India. As a result of this development, the percentage of India's population and GDP in the world's total population and GDP has remained basically unchanged in the past century. The proportion of China's population to the world's total population has dropped from 1/4 to 1/5. China experienced several serious natural disasters in the 20th century, from 1958 to 196 1, and experienced the worst man-made famine in history. Since 1980, the policy of strict birth control has curbed the population growth rate. At the same time, China's percentage of the world's GDP-adjusted for purchasing power-increased from 8.9% in 19 13 to1/0/%in 2000 and1%last year. The gap in international trade is very large, and measured by international trade, the gap between the two countries is even greater. 1990, China's share in world exports was 1.9%, and its share in world imports was 1.6%. By 2003, China's share in world exports was 5.8%, and its share in world imports was 5.3%. Last year, the two-way trade increased by 36%, and China surpassed Japan to become the third largest trading country, second only to the United States and Germany. In 1990s, the proportion of China's trade volume to GDP increased by more than 70%. No country in the world can get close to this figure. India's trade volume as a share of GDP has only increased by 23%. India's trade has also grown rapidly, increasing by 16% last year. Even so, India's total two-way trade last year was only about $654.38+050 billion, accounting for less than 654.38+0% of the total global trade. China's trade growth has surpassed the total Indian foreign trade for three consecutive years. This means that the weight gap between the two countries in the global trading system is very large, and it has also changed each other's views. Two years ago, Indian exporters were worried that competition from China might be their doom, but now they are worried that a hard landing in China may destroy a huge developing market. China's foreign exchange reserves are nearly five times that of India, which increased by $207 billion in 2004 and reached $610 billion by the end of the year. As the engine of global economic growth, China has become an important partner of the rich countries' economic forum. According to China's own figures, China accounted for 65,438+02% of the global merchandise trade growth last year. There are more poor people in India than in China. The government of China and the people of China are worried about the emerging gap between the rich and the poor. However, rapid economic growth has greatly reduced the proportion of poor people. According to the data of the World Bank, the number of people living below $65,438+0 per day (calculated by purchasing power parity) decreased from 65,438+09,865,438+0 to 2006,5438+0, a decrease of about 400 million. David Daulard, the representative of the World Bank in China, said: "Poverty has been basically eliminated, and we are full of confidence." But India has not yet eliminated poverty. According to the figures provided by the Indian government, from 1977 to 2000, the number of poor people in India decreased by 69 million, but 260 million people still live in poverty. The World Bank estimates that 35% of Indians live on less than 1 USD per day, while only 17% of China people live on less than 1 USD per day. According to the statistics of the World Food and Agriculture Organization, the number of malnourished people in China was 654.38+0990-654.38+0992, which has been reduced to 65.438+042 billion ten years later. In India, the corresponding figures are 22 1 10,000 and 210.6 million, indicating that the number of malnourished people in India still accounts for 1/4 of the world's malnourished people. About 47% of Indian children under five are underweight, while only 65,438+00% in China. The infant mortality rate in India is 65‰, while that in China is only 30‰. Life expectancy at birth in India is 63 years, while in China it is 7 1 year. The adult literacy rate in India is 57%, while that in China is 9 1%. In the human development index designed by the United Nations Development Programme, China scored 0.745 (out of 1), ranking 94th among 177 countries, while Indian scored 0.595, ranking 127. But it is worth noting that, measured by these basic living standards, the starting point of China is much higher than that of India. Of course, if people can find the most convincing statistic from a lot of confusing data to explain the gap between India and China, then this statistic is probably the female illiteracy rate. According to the data released by the World Bank, 87% of adult women in China can read, while only 45% in India. Girls' education brings many things: the health and education level of the whole family is higher and their life expectancy is longer; Workers with higher productivity; And promoting industrialization and urbanization.