With the arrival of the Joe Biden administration and the evolution— once ag...
2021-04-22 2 ENGLISH REPORTS
China has vastly outperformed India over the last 30 years, and now has an economy and per capita incomes roughly five times as large as India’s. China has also outperformed India in infrastructure, transportation, mass education, literacy, public health, e-commerce, work opportunities for women, and other domains. India clearly has a lot of catching up to do, and many doubt that it will close these gaps with China anytime soon. However, given India’s younger demographics, the long-term picture may prove considerably brighter.
Much of the disparity between China and India pertains to productivity growth. For example, China started off with one-third of India’s productivity level in 1970; four decades later, China’s labor productivity level is 67 percent higher than India’s.2 Fortunately for India, it is much easier for a nation to grow productivity faster when it is lagging behind, as opposed to being closer to the forefront. ▪ Total U.S. imports and exports for physical goods to and from India are just one-sixth of those with China.
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