[neutrino]

Just curious, what's the per capita GDP in China and India?

 

China: (The Economist, Country Briefings)
 

Annual data	2002(a)	Historical averages (%)	1998-2002
Population (m)	1,284.3	Population growth	0.9
GDP (US$ bn; market exchange rate)	1,266.1(b)	Real GDP growth	7.7
GDP (US$ bn; PPP)	6,033.2	Real domestic demand growth	8.3
GDP per head (US$; market exchange rate)	986	Inflation	-0.4
GDP per head (US$; purchasing power parity)	4,698	Current-account balance/GDP	2.3
Exchange rate (av) :US$	8.3(b)	FDI inflows/GDP	3.9
(a) Economist Intelligence Unit estimates. (b) Actual.

 

India: (The Economist, Country Briefings)
 

Annual data	2002(a)	Historical averages (%)	1998-2002
Population (m)	1,046(b)	Population growth	1.6
GDP (US$ bn; market exchange rate)	505.8	Real GDP growth	5.4
GDP (US$ bn; PPP)	2,727(b)	Real domestic demand growth	5.5
GDP per head (US$; market exchange rate)	480	Inflation	5.9
GDP per head (US$; purchasing power parity)	2,610	Current-account balance/GDP	-0.3
Exchange rate (av) Rs:US$	48.6(c)	FDI inflows/GDP	0.8
(a) Economist Intelligence Unit estimates. (b) Economist Intelligence Unit estimate. (c) Actual.

Excerpt from the March 18th Economist:

China's progress since it first opened to foreign investment and reform in 1978 has been dazzling. Over the past 25 years, its real gross domestic product has expanded at an average of 9% a year. Growth in foreign trade has averaged 15% annually since 1978; China's trade surplus with America is now twice the size of Japan's. And every week, more than $1 billion of foreign direct investment flows into the country. All this testifies to the global integration of China's economy, now the sixth-largest in the world with a GDP of $1.4 trillion.  (Emphasis added)

 

 

[Toddsterpatriot]

Thanks for the info.

Over the past 25 years, its real gross domestic product has expanded at an average of 9% a year.

So, at this rate of growth, assuming they can keep it up indefinitely means their GDP doubles every 8 years. Ours is 11.2 trillion.

http://www.bea.doc.gov/bea/dn/gdplev.xls

It would take them 24 years to match our current GDP. Oh yeah, their population is almost 1.3 trillion to our almost 300 million.

So lets say another 16 years to match our current per capita GDP. Where will we be in 40 years? And do you really believe their government provided figures of 9% growth a year?

My point is that in your post # 216 you said One more time - if free traitin' is so good, why are China and India doing so well with trade barriers? China is the sixth biggest economy in the world, you know. Why? Can you tell me?

China and India may be doing better than before, but their GDP per capita is only $1,266 in China and $505 in India. Are they really doing so well?