09-08-2022, 02:05 PM
Having lagged far behind China for decades, can India replicate China’s success in GDP ranking any time soon?
![[Image: fe9706a1-89d5-480b-a1e7-e3a0c1936cff.jpeg]](https://www.globaltimes.cn/Portals/0/attachment/2022/2022-09-05/fe9706a1-89d5-480b-a1e7-e3a0c1936cff.jpeg)
India has made headlines recently as the country has overtaken the UK, its former colonial master, to become the fifth-largest economy in the world. As part of the constant tricks orchestrated by Western countries led by the US to contain China's development and guide foreign investment to other markets, Western media sources have been boasting that India could become the "next China," which makes India believe that it can surpass Germany in five years and Japan in another two years.
While the Chinese and Indian economies were almost equal as recently as 1990, China's nominal gross domestic product (GDP) reached $17.7 trillion in 2021, which is about 5.7 times that of India's $3.1 trillion. How did such a gap between the two most populous economies grow? What are the myths surrounding China's development miracle? Will India succeed in following China's path and become the world's third-largest economy soon?
An analysis of the economic trajectory of the two Asian neighbors showed that China's takeoff was a result of joint factors including building a foundation of socialism with Chinese characteristics as well as its watershed event of reform and opening-up, while India's GDP scale is far smaller compared with China's and internal complexities further dim its economic prospects.
- More -