TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
India or China: Which Asian Giant Has More Inclusive Growth
India vs. China
Which of the world’s two billion-person economies is taking better care of its citizens? Click the drop down to compare to see how India and China have performed.
China: 99%
India: 13%
India and China are the world’s fastest-expanding large economies but which has been better at sharing the benefits of that growth with its people?
A new World Economic Forum survey titled “Inclusive Growth and Development Report 2015” released Monday tries to go beyond gross domestic product figures to give a more detailed look at how different economies are doing. It lists and ranks 112 countries using 140 indicators.
By pointing to relative performance on everything from labor productivity and women’s pay to the size of the middle class and health care coverage, the report is attempting to show how inclusive growth is in each country.
The report says most countries still have a long way to go, need to look closely at their relative performances and adjust their policies so that as their economies expand, more of their citizens benefit from that growth.
“Societies that have had particular success in building a robust middle class and reducing poverty and social marginalization have tended to create effective economic institutions and incentives … while supporting growth through sound macroeconomic policies and efficiency-enhancing reforms,” the report said.
The survey uses the basic measure of income and wealth inequality called the Gini index: The higher the number, the more lopsided the income distribution and the larger the gap between the rich and poor. Using that measure, income equality in India and China (after taxes and government transfers) is similar. Both countries come in at just above 50 on the Gini index, which has a zero to 100 scale.
The U.S. and the United Kingdom both have less- pronounced income inequality, with around 35 on the Gini index after taxes and transfer payments, the survey said.
While income distribution and GDP growth indicators in India and China are neck and neck most of the other numbers thrown up by the WEF survey suggest China is doing a much better job of taking care of its population of more than one billion people.
More of China’s populace is getting educated, more Chinese citizens are covered by healthcare and that country has a much larger middle class.
Play with the interactive chart above to see how the two Asian heavyweights performed on these and other indicators.
Of course it makes sense that China would be delivering better services to its people. Its economy is more than four times the size of India’s.
Indeed the WEF report didn’t even rank the two nations in the same peer group. China is an “upper middle income” economy while India is a “lower middle income” economy.
***
Why nobody is surprised?
India vs. China
Which of the world’s two billion-person economies is taking better care of its citizens? Click the drop down to compare to see how India and China have performed.
China: 99%
India: 13%
India and China are the world’s fastest-expanding large economies but which has been better at sharing the benefits of that growth with its people?
A new World Economic Forum survey titled “Inclusive Growth and Development Report 2015” released Monday tries to go beyond gross domestic product figures to give a more detailed look at how different economies are doing. It lists and ranks 112 countries using 140 indicators.
By pointing to relative performance on everything from labor productivity and women’s pay to the size of the middle class and health care coverage, the report is attempting to show how inclusive growth is in each country.
The report says most countries still have a long way to go, need to look closely at their relative performances and adjust their policies so that as their economies expand, more of their citizens benefit from that growth.
“Societies that have had particular success in building a robust middle class and reducing poverty and social marginalization have tended to create effective economic institutions and incentives … while supporting growth through sound macroeconomic policies and efficiency-enhancing reforms,” the report said.
The survey uses the basic measure of income and wealth inequality called the Gini index: The higher the number, the more lopsided the income distribution and the larger the gap between the rich and poor. Using that measure, income equality in India and China (after taxes and government transfers) is similar. Both countries come in at just above 50 on the Gini index, which has a zero to 100 scale.
The U.S. and the United Kingdom both have less- pronounced income inequality, with around 35 on the Gini index after taxes and transfer payments, the survey said.
While income distribution and GDP growth indicators in India and China are neck and neck most of the other numbers thrown up by the WEF survey suggest China is doing a much better job of taking care of its population of more than one billion people.
More of China’s populace is getting educated, more Chinese citizens are covered by healthcare and that country has a much larger middle class.
Play with the interactive chart above to see how the two Asian heavyweights performed on these and other indicators.
Of course it makes sense that China would be delivering better services to its people. Its economy is more than four times the size of India’s.
Indeed the WEF report didn’t even rank the two nations in the same peer group. China is an “upper middle income” economy while India is a “lower middle income” economy.
***
Why nobody is surprised?
