India likely to be world`s no. 1 economy by 2050: Citi

[cross1993]

Look at China and India increase the speed of trade. Trade growth far faster than we expected. I think we underestimated the Indian economy.
Give them some time, maybe they can do that.

 

[bandit]

Seriously, when I joined, I also had visions of the Eastern Block.

Unfortunately, certain members who are now banned, and happened to be Indian, have made me change my mind.

People say we have a manipulated currency rate and depend on low currency exchange ratios, and once this is broken, our economy is dead.

Well, since 2005, our currency appreciated 20%. 2005-2010 have been the best years ever for China, growing at over 10% annually where before it was 9%. In 2007 we even grew 13% and our currency value jumped from 1:7 to 1:6.7 in that time. The currency problem is complex and is primarily driven by Wall Street bankers to collapse our economy (notice they called for a FREE FLOAT, not for a HIGHER CURRENCY specifically).

Yeah again the same misreporting....intentionally so, the appreciation is not commensurate with the trade deficit that has been going on, China deliberatley slows the appreciation that's the whole issue. 20 % appreciation is drivel unless it corresponds with the international trade deficit that china runs up, an economics 101 'could' be useful here.
Especially when you criticize the wall street and display less than half the IQ than would be required to be a wall street guy. The marines send their commanders to the trading pits in wall street as the next closest thing to combat stress to test their integrity, its easy to stand afar and badmouth i guess.

notice they called for a FREE FLOAT, not for a HIGHER CURRENCY specifically

PLease please please do look up on free float, you are making a fool of yourself here, free float means driven by market forces and not by manipulative forces such as an authoritarian government, if you swear by free market then let your currency be priced by it rather than as you wish.

 

[cross1993]

This is what makes me skeptical of the citi group pronouncements (other the fact that they are trying to predict Eco. 50 years in the future). They have this idea that every nation with a large population and a low starting point is going to replicate China's 30 years of success. I say let see each of the country on the Citi list do 10 years of 9% growth before we start laying about with predictions.

Nigeria, Iraq and Egypt in the top 15?

Perhaps it is only our prejudice. Yes, We believe the caste system country can not succeed. But western countries have also believe that "Half Communism China" can not successfully, 1990.
Time proved them wrong. Maybe we will also wrong about India.

 

[cross1993]

Yeah again the same misreporting....intentionally so, the appreciation is not commensurate with the trade deficit that has been going on, China deliberatley slows the appreciation that's the whole issue. 20 % appreciation is drivel unless it corresponds with the internatinal trade deficit that china runs up, an economics 101 'could' be useful here.
Especially when you criticize the wall street snd display half the IQ than would be required to be a wall street guy



PLease please please do look up on free float, you are making a fool of yourself here, free float means driven by market forces and not by manipulative forces such as an authoritarian government, if you swear by free market then let your currency be priced by it rather than as you wish.

We will not let RMB freely convertible, because we need a stable financial markets.
Our capital markets is closed, we lock the exchange rate, we have a lot of foreign exchange. So we do not fear the financial crisis.

 

[below_freezing]

Yeah again the same misreporting....intentionally so, the appreciation is not commensurate with the trade deficit that has been going on, China deliberatley slows the appreciation that's the whole issue. 20 % appreciation is drivel unless it corresponds with the international trade deficit that china runs up, an economics 101 'could' be useful here.
Especially when you criticize the wall street and display less than half the IQ than would be required to be a wall street guy. The marines send their commanders to the trading pits in wall street as the next closest thing to combat stress to test their integrity, its easy to stand afar and badmouth i guess.



PLease please please do look up on free float, you are making a fool of yourself here, free float means driven by market forces and not by manipulative forces such as an authoritarian government, if you swear by free market then let your currency be priced by it rather than as you wish.

You have the argument wrong. The question was whether our currency not appreciating as fast as they want is a problem. The answer is no. Free market, whatever bullshit, is distracting from the main point. Our currency has appreciated, anything else is a distraction and irrelevant. Case closed. Want to reopen the case, fight for it.

 

[RoYaL~GuJJaR]

I wonder why this thread is still running???

 

[jamesbond000111]

it doesnt matter if these predictions will come true in the future or not...........what matters is that all these world class financial institutions like citi , goldman ,barclays, world bank, asian bank etc. are predicting a promising & prosperous INDIA than ever before to the world business community nd giving them the courage & the much required PUSH to invest in INDIAN DREAMS..........nd thats why indians are the most +vly optimistic people on the earth right now.......in short future is bright fellas........

 

[Roybot]

Self-Delete

 

[ChinaToday]

You Indians are really something special.. For years now, I’ve witnessed an incessant stream of self-idolizing, grandiloquent drivel out of India, such as “India is Shining”, “India will be a super power by 2020″, “India will overtake China”, “Mumbai will be better than Shanghai in five years”, “India will host Olympics in 2020″, India this, India that, blah blah blah blah blah blah… India sure talks the good talk, but it can’t walk the walk. Heck, never mind walking, can India even crawl? Infrastructure can’t get built with idle boasts, so all the triumphalist nonsense is sadly beside the point. Thanks to the UN Development Agency’s new MPI Poverty Report and various other surveys, we now know that 55% of Indians live BELOW poverty line; 47% of Indian children are malnourished and therefore physically as well as mentally stunted (a percentage higher than Sudan and North Korea!); 20% of Indians go hungry everyday, of whom women suffer disproportionately; 160 million Untouchables are being oppressed by the Caste System and denied the very basic of rights; functional literacy stands at around a pathetic 50%, etc. All the figures add up to India being poorer than most Sub-Saharan African states. Now, here’s an idea for you Indians: how about putting a lid on your loud mouths and start doing real work for a change? Put action over words, substance over style, and actual results over marketing gimmicks. If you Indians can do that, you might just catch China by, say, 2150.

 

[below_freezing]

India has 1 historical advantage: Indians have never succeeded in an armed rebellion in their entire history. Chinese citizens are too strong willed and our culture too homogenous, so we have huge revolutions every 100 years or so and they either overthrow the government outright, completely destroy the economy, or destabilize it enough to be conquered by foreigners. Therefore, it's hard to envision any non-communist movement overthrowing Indian government.

 

[Punjabbi Munda]

it doesnt matter if these predictions will come true in the future or not...........what matters is that all these world class financial institutions like citi , goldman ,barclays, world bank, asian bank etc. are predicting a promising & prosperous INDIA than ever before to the world business community nd giving them the courage & the much required PUSH to invest in INDIAN DREAMS..........nd thats why indians are the most +vly optimistic people on the earth right now.......in short future is bright fellas........

Most sensible post in this thread.

 

[Tractor]

You Indians are really something special.. For years now, I’ve witnessed an incessant stream of self-idolizing, grandiloquent drivel out of India, such as “India is Shining”, “India will be a super power by 2020″, “India will overtake China”, “Mumbai will be better than Shanghai in five years”, “India will host Olympics in 2020″, India this, India that, blah blah blah blah blah blah… India sure talks the good talk, but it can’t walk the walk. Heck, never mind walking, can India even crawl? Infrastructure can’t get built with idle boasts, so all the triumphalist nonsense is sadly beside the point. Thanks to the UN Development Agency’s new MPI Poverty Report and various other surveys, we now know that 55% of Indians live BELOW poverty line; 47% of Indian children are malnourished and therefore physically as well as mentally stunted (a percentage higher than Sudan and North Korea!); 20% of Indians go hungry everyday, of whom women suffer disproportionately; 160 million Untouchables are being oppressed by the Caste System and denied the very basic of rights; functional literacy stands at around a pathetic 50%, etc. All the figures add up to India being poorer than most Sub-Saharan African states. Now, here’s an idea for you Indians: how about putting a lid on your loud mouths and start doing real work for a change? Put action over words, substance over style, and actual results over marketing gimmicks. If you Indians can do that, you might just catch China by, say, 2150.

Why do you advise Indian to catch China?Or maybe what you want is to make them angry to catch any people even look like chinese in their country by 2050?

 

[conworldus]

India likely to dominate very alien civilization by 2900 - Goldman report. hahahha

 

[IND151]

it would be safe to say that in 20 to 30 years india will be among top 10 economies of world with 25 t0 30% larger GDP.

 

[IND151]

It is about pragmatic self-interest more than anything else.

Who honestly wants to be a "superpower" or a "global policeman" in todays world?

Look at America. They are bankrupting themselves to pay for their wars halfway across the world, and the only result is that the people end up hating them anyway.

Ideally, I would like China to take care of its own people, and keep to itself. Leave the "superpower" business to the USA, and to anyone else who wants it.

war helps american economy. due to tremendous military expenditure in WW2 america was able to come out from great economic depression.