The Story of Economic Growth: India, China and the U.s
Nov 23rd, 2008 | By admin | Category: Economy
The format of combining the conditions that the economy is about $ 13 billion. Assuming the development annual average of 2.5 percent (this was the media since the Second World War), the United States bring. off about $ 320 one billion annually. On the one hand, the formats of the economies of China and India are assessed or t are approximately $ 2.5 trillion and $ 1 trillion, respectively. Assuming 10 percent monumental and unsustainable development annual average, China annually puts out about $ 250 billion and India annually puts out about $ 100 billion. So every year, the U.S. still add more to its economy more than China or India ago. In the face of these empirics, it is impossible to argue that China or India is going to overtake the United States in economic superiority. However, what could change the equation is one of two very discrete and dramatic events. The first possibility is a collapse of the United States triggered by some event or a series of events. But that 's unlikely. Even the current increase in oil prices from about $ 20 per barrel to about $ 130 per barrel has had only marginal effect on the larger economy. The U.S. economy has shown remarkable resilience - the crisis of industry loans and savings in the 80s, COM bullet breaks in the 2000s and the initial crisis in the space last year or so is annoying but have not and can not break the economy of the United States. The second possibility is a new innovation or a set of innovations that dramatically alters the way of life. Think the steam engine, or the Bessemer process for mass production of steel, technology or World Wide Web (WWW). But here also the United States seem to be, if the whole thing, suspended in front of other companies - think of the genome therapy and genetics, or all'alimento genetically modified, or non-polluting technologies, or nanotechnology and more . The general debate that the United States have borrowed so much from other companies which now has been a good servant of these companies is not the "enforcement of € â put simply, where these companies, individuals and organizations are going to place our their money? Unless the United States, where else? Of course, there will be some changes and high and low nominal and periodicals but it is unlikely that there can never be a functioning economy of the United States because there is no alternative apart on a large scale. Can I be missing a new innovation - a new steam engine - but what makes the United States are likely to dominate the world economy, trade and innovations for the next 50 years.
Gurumurthy Kalyanaram
