Can India catch up? Can Australia do better?. By Sanjeev Sabhlok, DRAFT, 1 June 2011. The centre of gravity of the world economy is changing. IMF : The combined real output of China and India now equals US output. Table: Share of world output measured in purchasing power parity.
By Sanjeev Sabhlok, DRAFT, 1 June 2011
IMF: The combined realoutput of China and India now equals US output
Table: Share of world output measured in purchasing power parity
India’s economy is now as big as Japan.
By 2016 it will be six times that of Australia.
in my draft manuscript,
The Discovery of Freedom
(available on the internet)
Growth = f (governance, opportunity)
Role of government
- to reduce negative effects of excessive government
>> The Western economies started growing: an unprecedented phenomenon!
Source of the graph:
(no one thinking on this line: a missed opportunity!)
Examples: medical equipment, drug production, medical tourism