great
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What do you mean so what? as an author, you want the most up to date information. If the author wants his or her work to be credible, then he or she must provide the most accurate information. I am not arguing with anyone here. I just want to point out the information is not accurate.
I can see what you mean but still that doesn't change the idea behind the article. Yes, India is quite far behind China right now but you also have to remember in June 2001 Chinese reserves were only 183.9 billion. They accumulated rest of it in the last decade, there's no reason why India can't do it especially when India is expected to add 120 million people to workforce this decade. Imagine the possibility that by 2018 India will have over 800 million workforce with a $3000 per capita. If they save at the same rate as China ie., 50% of their annual income. That's 1.2 trillion dollars a year. At that rate all it takes is three years to accumulate all reserves China has now. Also all of this is just from savings. I hope I don't need to tell you about all other sources. So Forex reserves could be a major disadvantage for India presently but in the long run we'll beat the heck out of China. Just watch out after 2020. Everyone is going to be talking about India.
New horizons for foreign direct ... - Google Books
Above is the source for Chinese foreign reserves in 2001. Although lot of Chinese on this forum thinks that they are some superhuman and India cannot match them. But facts wouldn't support them. In my opinion they actually favor India in the long run. We'll just have to wait and see.