The article is from WeChat public account: Wall Street News (ID: wallstreetcn) < span class = "text-remarks">, author: Liaozhi Hong, from FIG title: Oriental IC
The world often likes to compare India with China, thinking that both countries are large developing countries with large populations, vast land, rich resources, and a long history; After China, India’s demographic dividend will help it become the next world factory.
In the initial stage of development, India’s conditions were indeed better than China: independence was earlier than China, the industrial foundation was stronger than China at the beginning of independence, the international environment was more friendly, and the English language advantage.
However, after 70 years of development, China has become the second largest economy in the world, with a per capita GDP of about US $ 10,000 and the world’s manufacturing output value. India’s GDP is only about one fifth of China’s. Only one seventh of China.
In the eyes of India, China is “the child of someone else’s house”.
Since 2019, the Indian economy has continued to stall, which has further distanced itself from the Chinese economy.