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please fo to this link and see Pak.economy at the end of FY2007

qureshi0101

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Guys please go to this link and PDF file will open.

It nicely summarizes pakistan'se economy at the end of FY2007.

Just look at the graphs for summary and predicted trends IF SOMEONE does not wish to read the whole document




http://www.adb.org/Documents/Books/ADO/2007/Update/PAK.pdf



summary:

at the end of FY 2007:

Exports are 18.00 billion dollars (as oppose to mere $ 7 billion in year 1999)

Foreign direct investment at the end of FY 07: 5.1 billion dollars (as oppose to mere $ 700 million in 1999)

REAL GDP GROWTH: 7.2 %

Overall Pakistan's growth between (FY 2003 - 2007) has averaged: 7.5 %


Now what do all the MUSHY HATERS HAVE TO SAY NOW?

Now I know more needs to be done, therefore JUDGING BY this economic turnaround, MUSHY DESERVES ANOTHER CHANCE. InshahAllah in the next 5 years, more and even better economic prosperity will occur. Ameen



With the help of GOD, InshahAllah, Pakistan will continue to be ruled by MUSHY for atleast 1 more decade and he will transform Pakistan.

Long live Pakistan and GOD SAVE PAKISTAN AND OUR GREAT LEADER: MUSHY
AMEEN.

:pakistan:
 
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summary:
at the end of FY 2007:
Exports are 18.00 billion dollars (as oppose to mere $ 7 billion in year 1999)
Foreign direct investment at the end of FY 07: 5.1 billion dollars (as oppose to mere $ 700 million in 1999)
REAL GDP GROWTH: 7.2 %
Overall Pakistan's growth between (FY 2003 - 2007) has averaged: 7.5 %
Now what do all the MUSHY HATERS HAVE TO SAY NOW?

President Musharraf at the moment is a dictator he can work wonders greater than Chinese Communist party and much more than any democratic govt.

Look at Dubai almost 35% growth rate and Dubai has no "Oil".

Are you happy with mediocrity? Are goals for Pakistan 7% increase in a time where many economies are clocking double digits??

Before saying that democratic govts were corrupt then let Musharraf make corruption a capital punishment and have a military controlled Corruption watch bureau.

Now I know more needs to be done, therefore JUDGING BY this economic turnaround, MUSHY DESERVES ANOTHER CHANCE. InshahAllah in the next 5 years, more and even better economic prosperity will occur. Ameen. With the help of GOD, InshahAllah, Pakistan will continue to be ruled by MUSHY for atleast 1 more decade and he will transform Pakistan.
Long live Pakistan and GOD SAVE PAKISTAN AND OUR GREAT LEADER: MUSHY[/QUOTE]

I may sound rude but instead of praying to God to save Mushy, you should be doing something productive for yourself and the nation in addition to guiding your prayers to the right path.

Musharraf is a stop-gap measure he is not a hereditary king nor part of an oligarchy. He is a military dictator who is supposed to put the country into normalcy so that a legitimate form of govt comes.

In the period to restore normalcy he could have worked wonders but sadly for the Pakistanis he was not able to.

I think if you are happy to be under dictators then it is your wish. What happens if Mushy god forbid dies? Another round of chaos.
I don't know what kind of a leader he is but judging by your response he should stand in elections and win them, this will actually help Pakistan more I believe. The longer Musharraf's reigns last as a Dictator the lesser Pakistan will progress after he is gone there will be a power vacuum and all will be fighting like hungry dogs fighting after bones.


To sum up I think instead of relying on divine intervention get to work is all I would say.


Malang
 
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Thanks for the report! Since it's from the ADB, we know it's reliable as there is no bias.

President Musharraf at the moment is a dictator he can work wonders greater than Chinese Communist party and much more than any democratic govt.

He is not a dictator by any means. He has been legally elected by the electoral college in line with the laws of Pakistan. He is now a civilian, so even if you thought he was a "dictator" when he was in the army, you cannot make that claim anymore.

Look at Dubai almost 35% growth rate and Dubai has no "Oil".

Dubai is a tiny city-state, Pakistan is a large country with 4 provinces and some other territories. Don't compare these two.

Are you happy with mediocrity? Are goals for Pakistan 7% increase in a time where many economies are clocking double digits??

Mediocrity? MEDIOCRITY???? 7% + real growth rate is mediocrity? Are you sober? Which country, other than China, is clocking double digits may I ask?

Before saying that democratic govts were corrupt then let Musharraf make corruption a capital punishment and have a military controlled Corruption watch bureau.

Our democratic governments were corrupt. Everyone from the most educated finance professionals to the beggar on the streets knows that. Open the file and look at the graph of GDP growth rates over the years. You will notice that dips take place during democratic eras, whereas in other times the graph has an upwards trend. Look at the years 92 and 97 *cough*

BB and NS had their chance, but in internet gaming terminology they were both epic fail.

I may sound rude but instead of praying to God to save Mushy, you should be doing something productive for yourself and the nation in addition to guiding your prayers to the right path.

I agree with you here, but as well as with Qureshi.

Musharraf is a stop-gap measure he is not a hereditary king nor part of an oligarchy. He is a military dictator who is supposed to put the country into normalcy so that a legitimate form of govt comes.

He is not a dictator just because you say so :rolleyes:

And after Jan 8, 2008, Pakistan will be back to 100% democratic governance.

In the period to restore normalcy he could have worked wonders but sadly for the Pakistanis he was not able to.

I don't know about you, but doubling the size of the economy within 7-8 years does look like a wonder to me. I don't know what you expect him to do, build a Manhattan like city?

I think if you are happy to be under dictators then it is your wish. What happens if Mushy god forbid dies? Another round of chaos.
I don't know what kind of a leader he is but judging by your response he should stand in elections and win them, this will actually help Pakistan more I believe. The longer Musharraf's reigns last as a Dictator the lesser Pakistan will progress after he is gone there will be a power vacuum and all will be fighting like hungry dogs fighting after bones.

I think if you are happy to go on imagining Pakistan under a dictators rule, then it is your wish :lol:

If Musharraf dies, we will not be thrown into chaos. A new President will be elected and life will go on.

You are simply making baseless generalized statements with no element of validity.
 
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Dude, now you are the only person who thinks that Mushy is a dictator.

He is no longer in uniform. So stop living in LA LA land and WAKE THE HECK UP.

Get your facts correct. The only country in the world with double digit REAL GDP growth is Pakistan's dear friend: CHINA.

Dubai is not getting 35% growth rate broo, YOU ARE SO WRONG!!!



Study the report again. IMF and ADB have both verified this massive growth that Pakistan has achieved.

After China and India, pakistan ranks # 3 in highest gdp growth list.

Think about it, even with all the political uncertainty that PML-N,PPP and likes of Imran Khan created in PAK, and with war on terrorism in FATA areas, suicide bombs, etc PAKISTAN HAS STILL BEEN ABLE TO PULL SUCH GOOD ECONOMIC GROWTH.



ONE MORE FACT: LOOK AT KARACHI STOCK EXCHANGE (KSE), in 1999 it was like 1300 pts and now in 2007: 14,000 pts. One of the best stock exchange performances in the world!!!


:pakistan:










President Musharraf at the moment is a dictator he can work wonders greater than Chinese Communist party and much more than any democratic govt.

Look at Dubai almost 35% growth rate and Dubai has no "Oil".

Are you happy with mediocrity? Are goals for Pakistan 7% increase in a time where many economies are clocking double digits??

Before saying that democratic govts were corrupt then let Musharraf make corruption a capital punishment and have a military controlled Corruption watch bureau.


Long live Pakistan and GOD SAVE PAKISTAN AND OUR GREAT LEADER: MUSHY

I may sound rude but instead of praying to God to save Mushy, you should be doing something productive for yourself and the nation in addition to guiding your prayers to the right path.

Musharraf is a stop-gap measure he is not a hereditary king nor part of an oligarchy. He is a military dictator who is supposed to put the country into normalcy so that a legitimate form of govt comes.

In the period to restore normalcy he could have worked wonders but sadly for the Pakistanis he was not able to.

I think if you are happy to be under dictators then it is your wish. What happens if Mushy god forbid dies? Another round of chaos.
I don't know what kind of a leader he is but judging by your response he should stand in elections and win them, this will actually help Pakistan more I believe. The longer Musharraf's reigns last as a Dictator the lesser Pakistan will progress after he is gone there will be a power vacuum and all will be fighting like hungry dogs fighting after bones.


To sum up I think instead of relying on divine intervention get to work is all I would say.


Malang[/QUOTE]
 
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All the people who are criticizing President Musharraf, I ask them is their anyone who you have that can fill his sheos? We have leaders like Benazir Bhutto and Nawaz Sharif, who did nothing for the country while they were in power, they only robbed the people. Now that they see that Pakistan's treasure chest is full they have come back to rob. it. I do agree with people who have said that more could be done. No leader is perfect and we have to put ourselves in the position of that person, before we comment on them. But the fact is that under President Musharraf a lot of development has come to Pakistan, more so then under Benazir and Nawaz. I personally believe that credit should be given where it is deserved. Our economy is growing, foreigners are investing, and all sorts of developments are taking place. Now I believe that we should not be celebrating just yet, their is still a lot that needs to be done. Let us work and work, let us work together and I can assure you that when the Pakistani Nation works together their is no challenge to big for us, and history itself is proven this. Its not time to celebrate just yet but it is time to work even harder.
 
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Thanks for the report! Since it's from the ADB, we know it's reliable as there is no bias.

He is not a dictator by any means. He has been legally elected by the electoral college in line with the laws of Pakistan. He is now a civilian, so even if you thought he was a "dictator" when he was in the army, you cannot make that claim anymore.

Well if you call the electoral college legitimate then it is a different matter.
If he is not a dictator let us call him an individual "who seized power in a bloodless coup and changed laws so that he remains in power" or as he likes CEO or President etc.

But the fact is he is a dictator but in a good sort of way.

Dubai is a tiny city-state, Pakistan is a large country with 4 provinces and some other territories. Don't compare these two.

UAE it is a fifth of size of Pakistan with 35% growth, China is 10 times the size of Pakistan, India is 3 times the size of Pakistan yet they have great growth rate.

Mediocrity? MEDIOCRITY???? 7% + real growth rate is mediocrity? Are you sober? Which country, other than China, is clocking double digits may I ask?


https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html

There are 57 countries above Pakistan in Gdp growth.

at the same time Pakistan's real growth is put as 6.5%, inflation is 7.9% and industrial growth rate is 6% as per last year's estimate.

What I am saying is are you satisfied with 6-7%? Mr. Musharraf has been in power for almost 7-8 years he "could" have done better but if Pakistanis are happy with 7% growth rate in times where the countries around them are clocking massive growth then... He is a "dictator/CEO/Pres" with absolute power he has no red tape to worry no corruption to do no palms to grease he can do what even the Chinese can't etc. etc.

Our democratic governments were corrupt. Everyone from the most educated finance professionals to the beggar on the streets knows that. Open the file and look at the graph of GDP growth rates over the years. You will notice that dips take place during democratic eras, whereas in other times the graph has an upwards trend. Look at the years 92 and 97 *cough*
BB and NS had their chance, but in internet gaming terminology they were both epic fail.

Democratic govts are generally extremely corrupt in Developing Nations, Indian govt is much more corrupt than Pakistani govt as per a report only 7-8paise per rupee is actually spent "usefully" but its doing well.
Nigerian govt is the most corrupt as per some but its doing well.

But
one can also say that in 1992-1997 even China, India and all the countries clocking amazing growth rates were dormant as compared to now.
This growth has actually begun less than a decade back.

I agree with you here, but as well as with Qureshi.

okay

He is not a dictator just because you say so :rolleyes:

Call him whatever you like.. Messiah even it hardly concerns but the fact is that Musharraf is not legitimate.. if he is doing wonders excellent but it doesn't change the fact..
he is a ex-military chief who interfered in internal matters and now is retired and illegitimately proclaimed himself a President who has tinkered with the very institutions that define Pakistan ie Constitution and the courts


And after Jan 8, 2008, Pakistan will be back to 100% democratic governance.

Inshallah..

I don't know about you, but doubling the size of the economy within 7-8 years does look like a wonder to me. I don't know what you expect him to do, build a Manhattan like city?

Most world economies have witnessed growth right about the Pakistan achieved growth and most were in doldrums right about the time Pakistani economy was in doldrums and these times corresponded with Democracy and dictatorship...

I think if you are happy to go on imagining Pakistan under a dictators rule, then it is your wish :lol:

Like if its a bad thing?
But the fact is he is a general he had/has no business in internal matters.. and now as a civilian he should let the people decide...

If Musharraf dies, we will not be thrown into chaos. A new President will be elected and life will go on.
You are simply making baseless generalized statements with no element of validity.

What about the order of 2000 gagging judges?? etc.. see in such a scenario you assume the worst not the best...

anyways if Pakistani citizens are happy then I have no issues.. but as SRK says don't be satisfied wish for more..


Malang
 
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Well if you call the electoral college legitimate then it is a different matter.
If he is not a dictator let us call him an individual "who seized power in a bloodless coup and changed laws so that he remains in power" or as he likes CEO or President etc.

Pakistan is a semi-presidential republic, meaning it has both a President with execuitive powers, and a Prime Minister who is the head of government.

In Pakistan, the president is elected via electoral college, and the Prime Minister via universal adult sufferage. The electoral college is composed of people in the National Assembly, the Senate, and the four Provincial assembiles as well as representatives from areas like FATA, AJK etc. In France, which too is a semi-presidential republic, the President is elected by popular vote, and then he chooses the Prime Minister.

Point is that different countries have different systems of elections and Musharraf is currently a legal civilian ruler according to Pakistani law.

UAE it is a fifth of size of Pakistan with 35% growth, China is 10 times the size of Pakistan, India is 3 times the size of Pakistan yet they have great growth rate.

The UAE is not a singular entity like Pakistan. It is composed of 7 emirates, Dubai being one of them. So when you speak of Dubai's economy, you're only talking about the economy of that tiny emirate, not of the entire UAE.

And gasoline and natural gas are infact still the most important products of all of UAE, so you were wrong on that count too.


Simply displaying ONE macroeconomic indicator does not tell anything. The country's size; both population and area have to be taken into account. One must see how big the economy already is because it becomes impossible to achieve more than 2-3% growth rate once the economy is at an advanced stage.

Countries like Equatorial Guinea are not achieving anything of note, their economy is only growing that fast because NOTHING WAS THERE IN THE FIRST PLACE. It's an illusion, their rate of growth will slow down soon.

Also, there are 165 countries above the United States in terms of GDP growth rate. Your point?

at the same time Pakistan's real growth is put as 6.5%, inflation is 7.9% and industrial growth rate is 6% as per last year's estimate.

Pakistans economy has grown at 7.5% since the last several years (open the document in the first post). And again, what's your point? inflation is a normal reaction to a growing middle class in a developing country.

What I am saying is are you satisfied with 6-7%? Mr. Musharraf has been in power for almost 7-8 years he "could" have done better but if Pakistanis are happy with 7% growth rate in times where the countries around them are clocking massive growth then... He is a "dictator/CEO/Pres" with absolute power he has no red tape to worry no corruption to do no palms to grease he can do what even the Chinese can't etc. etc.

What I'm saying is that 7% growth is pretty impressive for an economy the size of Pakistan. We can eliminate poverty in it's entirety if this rate continues to 2020-2025.

And once again, what do you expect Musharraf to do? Build Rome in a day? I have already told you that it's pointless to mention puny countries with almost non-existent economies that are clocking those double digit growth rates. Look at where the US, Germany, UK and France are. It shows you that the more developed a country's economy gets, the lower it's growth rate falls.

Democratic govts are generally extremely corrupt in Developing Nations, Indian govt is much more corrupt than Pakistani govt as per a report only 7-8paise per rupee is actually spent "usefully" but its doing well.
Nigerian govt is the most corrupt as per some but its doing well.

I would rather 80 paise of my every single tax rupee be spent on what it's meant for under a non-democratic goverment instead of 7-8 paise under a democratic government.

Call him whatever you like.. Messiah even it hardly concerns but the fact is that Musharraf is not legitimate.. if he is doing wonders excellent but it doesn't change the fact..
he is a ex-military chief who interfered in internal matters and now is retired and illegitimately proclaimed himself a President who has tinkered with the very institutions that define Pakistan ie Constitution and the courts

You conveniently forget that the corrupt Nawaz Sharif tried to sumarily fire him, and did not hesitate to put innocent lives in danger in order to kill Musharraf. It was the army senior officers, and not Musharraf himself, who actually took part in the coup. It was Nawaz Sharifs bizarre actions that led to Musharraf coming to power, so if anything you should blame your favorite poster boy of democracy for all the "illegal" things that happened since then.

I notice you completely ignore all the illegal activities (corruption etc) that took place under Pakistan's democratic governments.

Most world economies have witnessed growth right about the Pakistan achieved growth and most were in doldrums right about the time Pakistani economy was in doldrums and these times corresponded with Democracy and dictatorship...

No comparable country has achieved the same growth rate as Pakistan since 2001.

Like if its a bad thing?
But the fact is he is a general he had/has no business in internal matters.. and now as a civilian he should let the people decide...

He is letting the people decide. Vote on Jan 8 :tup:

What about the order of 2000 gagging judges?? etc.. see in such a scenario you assume the worst not the best...

Yes, what he did with the judges was wrong. But in the long run, Mushys good will outweigh his bad.
 
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Per Capita Income of Pakistan: $846

Population : 164.7 million


Daily Times - Leading News Resource of Pakistan

Per Capita Income of India: $590

Population: 1,129 million

India's annual per capita income: Rs 23,222



Per capita income of U.A.E: $16471

Population: 2.94 million

Expatriates account for more than 75% of UAE population.

Population is young - more than 40% are under 25.

Abu dhabi contributes 59% and Dubai 28.9% of GDP of U.A.E.

Dubai Healthcare City | Home
UAE - The Official Web Site - News


I will say as per the density of people India is growing more than U.A.E...

So donot compare GDP with each other... their are lots of other factors involved than comparing a tiny U.A.E with 80 expatriates with Pakistan or India
 
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Pakistan is a semi-presidential republic, meaning it has both a President with execuitive powers, and a Prime Minister who is the head of government.

In Pakistan, the president is elected via electoral college, and the Prime Minister via universal adult sufferage. The electoral college is composed of people in the National Assembly, the Senate, and the four Provincial assembiles as well as representatives from areas like FATA, AJK etc. In France, which too is a semi-presidential republic, the President is elected by popular vote, and then he chooses the Prime Minister.

Point is that different countries have different systems of elections and Musharraf is currently a legal civilian ruler according to Pakistani law.

You are trying to justify a coup..
His detractors will always be against him, and his supporters support him.
From an outside point of view Musharraf did not use correct methods without bringing into play the role of earlier heads..

Let us end this point of debate here.

The UAE is not a singular entity like Pakistan. It is composed of 7 emirates, Dubai being one of them. So when you speak of Dubai's economy, you're only talking about the economy of that tiny emirate, not of the entire UAE.

Dubai;s economy has increased by more than 50% though overall UAE's economy has grown by 35% but that is beside the point it was a top-of the mind example other examples are mentioned in the list.

And gasoline and natural gas are infact still the most important products of all of UAE, so you were wrong on that count too.

Not for Dubai though but for UAE yes..

Simply displaying ONE macroeconomic indicator does not tell anything. The country's size; both population and area have to be taken into account. One must see how big the economy already is because it becomes impossible to achieve more than 2-3% growth rate once the economy is at an advanced stage.

I shall give you an illustration US economy is around 10-12 trillion dollars and 3% increase here is equivalent to 3 new Pakistan economically created yearly.

Countries like Equatorial Guinea are not achieving anything of note, their economy is only growing that fast because NOTHING WAS THERE IN THE FIRST PLACE. It's an illusion, their rate of growth will slow down soon.

Agreed but look at China it is achieving excellent growth look at India, Ireland, Russia, Brazil, Azerbejain etc. etc.

Also, there are 165 countries above the United States in terms of GDP growth rate. Your point?

as you beautifully explained it is a developed economy.
Developing nations clock higher growth rate.. Pakistan is a developing nation.

Pakistans economy has grown at 7.5% since the last several years (open the document in the first post). And again, what's your point? inflation is a normal reaction to a growing middle class in a developing country.

When Inflation is higher than growth rate then what would you say?


What I'm saying is that 7% growth is pretty impressive for an economy the size of Pakistan. We can eliminate poverty in it's entirety if this rate continues to 2020-2025.

See don't take me wrongly 7% growth is stupendous, what Musharraf has done is great too but why are you satisfied??

And once again, what do you expect Musharraf to do? Build Rome in a day? I have already told you that it's pointless to mention puny countries with almost non-existent economies that are clocking those double digit growth rates. Look at where the US, Germany, UK and France are. It shows you that the more developed a country's economy gets, the lower it's growth rate falls.


What you are not realizing is that Musharraf right now yields enormous power, he can initiate infrastructure projects at the snap of a finger this is impossible in a democracy, look at India all govt projects are delayed because of reasons peculiar to democracy this can be side stepped by Musharraf.

Honestly what Pakistan needs is 2027 vision.. and tough measures should have been taken and with ushering of democray these will be side stepped..

Musharraf could have taken tough decision like the Chinese to initiate reforms which would yield results later and in a more sustained and accelerated manner.

all the govts will be shortsighted do you think any govt with a fragile majority initiate a 20 yr vision? they will try to build things achievable during their tenure to secure more votes..

You need a leader like in Musharraf's position to initiate reforms with far reaching consequences which are impossible usually in a democracy.

I would rather 80 paise of my every single tax rupee be spent on what it's meant for under a non-democratic goverment instead of 7-8 paise under a democratic government.

I wouldn't but then again it doesn't take long for people to become demons from angels eg Sadan Hussein, Hitler etc. in extreme cases but it is possible.

Democratic govt implies that there is accountability.. non-democratic means no accountability..

You conveniently forget that the corrupt Nawaz Sharif tried to sumarily fire him, and did not hesitate to put innocent lives in danger in order to kill Musharraf. It was the army senior officers, and not Musharraf himself, who actually took part in the coup. It was Nawaz Sharifs bizarre actions that led to Musharraf coming to power, so if anything you should blame your favorite poster boy of democracy for all the "illegal" things that happened since then.

I actually admire Bhutto but I am not a Pakistani citizen to pass judgements.

Musharraf seized power fine, he held it for close to a decade fine, he is giving it up fine, but has he laid a solid foundation? has he done anything that will help Pakistan 20-30 years from now?? Could he have done more?

I notice you completely ignore all the illegal activities (corruption etc) that took place under Pakistan's democratic governments.
No comparable country has achieved the same growth rate as Pakistan since 2001.

before 2001 nor India nor most nations were clocking this high a growth rate..
and since 2001 nations have generally accelerated...
and what do you mean by comparable country why is there a need for comparision with similar compare with greater.. If Japan had a mentality compare is with any comparable sized country they would have been behind..
Competiton should be with the best.

He is letting the people decide. Vote on Jan 8 :tup:Yes, what he did with the judges was wrong. But in the long run, Mushys good will outweigh his bad.

I hope so his goods outweight the bad.. sorry to see such a great nation in turmoil.. Hope all turns out well...


Malang
 
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Per Capita Income of Pakistan: $846

Population : 164.7 million


Daily Times - Leading News Resource of Pakistan

Per Capita Income of India: $590

Population: 1,129 million

India's annual per capita income: Rs 23,222

You probably arrived at that figure of $590 for India by the factor of currency conversion.

$1 = Rs.40

Well, first of all India's annual income in rupee terms has been based on the 1991/92 prices which is the base year for India's economic data calculation. India's rupee income is based on constant prices which you are mistaking for current prices. Here is the current price per capita for India

India's GDP per head (US$; market exchange rate) = $843(Yr 2006)
Source: Economist.com | Country Briefings: India

Pakistan's GDP per head (US$; market exchange rate) = $788(Yr 2006)
Source: Economist.com | Country Briefings: Pakistan
 
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I digged out this old chart for sharing with members here. I just find it damn interesting and it shows how the world balance of power is changing under our feet.

It is a bit old and actual events are moving faster than predictions, so we may see an acceleration in the trends that the chart portends.

 

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What can I do to make a picture appear in its original size and not a thumbnail?

This is from a most interesting issue of an India business magazine I read few years back which had many interesting facts and figures and some amazing charts.

Would try to dig out some more for sharing with members.
 
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Trend of per capita income

 

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We’ve tried to capture this dramatic tale through these two charts. In the first, covering 350 years, India’s per capita GDP is assumed to be 100 (shown as a flat line at the bottom of the graph) throughout and the per capita incomes of the other eight countries are measured relative to it for each year. So in 1870, per capita income in the UK was 29 times that of India; the difference rose to 61 times by 1970 and fell to 51 times by 2000. America’s per capita income in 1870 was 23 times that of India and 87 times in 1970.

The second chart shows how such growth translates into changes in the balance between the economic superpowers. By 2050, India and China could account for around 54% of the total GDP of the nine developed and developing countries mentioned, up from around 7% currently, according to the Goldman Sachs report.
 
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