Is India Surpassing China as Fastest Growing Economy?

August 21st, 2017 by admin Leave a reply »

Evidence is pointing to India becoming the newest fastest growing economy in the world, taking over China’s Number 1 position, according to Harvard University’s Center for International Development (CID) growth projections.  Further, it is expected that the region will maintain this leading position, encountering an average 7.7 percent growth until 2025.

One reason for this, it is thought, is that, geographically it has the potential to expand into new markets, including automobiles, chemicals and (some types of) electronics. This is in direct contrast to those regions that rely solely on oil.

Other regions in the east expected to follow suit include Bulgaria, Indonesia, Turkey and Uganda, similarly because they have broader geographical and institutional dimensions.   As the report stated:
“What they share is a focus on expanding the capabilities of their workforce that leaves them well positioned to diversify into new products and products of increasingly greater complexity.”

Growth projections are measured by each country’s economic complexity, looking at the productive capabilities found in exports and how hard/easy it is to further diversify.


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