Nan Yang
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When Cii Bank predicted India would over take China, it implied a long run growth rate of India at 5%, China at 3% and US at 1%. The more developed an economy is, harder is for one to extract higher growth rate. That is what economic theories say. For more information check Solow's model of economic growth theory and cobb douglas production function theory for more information.
Again DO YOUR MATHS ! It will still take India 80 to 90 years.