For trajectory note that the Indian population is growing while japans population is shrinking. So taking all that into account per capita it’s about 50 years before India catches up with Japan if current rates stay the same.
I can guarantee rates will not stay the same.
https://en.wikipedia.org/wiki/Nuclear_latency#Nuclear-thresh...
Per capita is more relevant to people overall.
edit: ah, i should have read the article, it is nominal.
Then China started market reforms and liberalization in 1978 whereas India actually started 13 years later in 1991. Both cpuntries have seen massive growth, but the rate of growth in India has simply not kept up with China, and there is also the compounding effect of having starting earlier with more government support in China.
We really should expect to see India continue to improve, but the thing folks tend to not see is that by mere virtue of being closer to the equator, India will suffer massively massively more from Climate Change. The projections are pretty extreme. Unless you live at higher altitudes like Uttar Pradesh in India, you will be screwed
On the other... this is showcasing the general failure of Japan in general and its moral defeat to US in the late 80s. Plaza accord was a mistake and Japan keeps riding that decision as a US puppet and against personal interests to this day - including recent turn to militarization
It's a beautiful place, but I wouldn't want to live there.
No growth means no jobs for new grads, no growth means workers have no negotiating power with their employers, no growth means young people remain poor and cannot afford families. No growth means young people with bad economic prospects seek political alternatives, and newsflash, they far-right with their magic-grift-politics are far more appealing than the far-left with their estorectic utopian far-fetched plans.
Also no growth means a worsening wealth inequality over time.
Growth über Alles / the race to consume everything we can in our spherical petri dish with the same level of awareness as mindless bacteria, will be the end of human civilisation, regardless of anyone's economic beliefs.
The only credible extinction threat to humankind so far is an ASI oopise, and that's because it's an intelligent threat.
Your money goes further in India. Their tax collection is pretty weak, so they print money to fund government spending which usually means higher inflation than we're used to in the US, but they're starting to get a better return on their infra spending as the country is lifted up via the use of the most recent tech (trains, smartphones, fiber, solar, battery, etc...).
It's been fun watching the country and region develop over the years. They still have a ways to go, and in some ways I think I'll miss the old chaotic India. You don't find cows wearing decorative garlands in downtown Chicago or New York. I bet whatever India transforms into, it'll hold some of it's unique charm. That's my hope anyway.
India has a space program ... and India has people living off the land like they lived 6000 years ago.
And then you calculate and realize that in fact that, first, India could have the same standard. They have the money to do that. It is possible. Second, actually doing that would be the best thing that could possibly happen to the Indian economy. Hell, you could slowly implement this over 20-30 years and that would later be described as "creating a golden age".
In other words, Indian poor are kept poor to maximize the difference between the rich and the poor. If the poor were simply given money, one would expect that to 100x the wealth of rich Indians. And they're NOT doing it.
... and as bad as that is, then you look at Pakistan. WTF.
One million is hyperbole, but Japan's more advanced economy and lower population vs India's less advanced economy and higher population is a strange comparison in some ways. The single number doesn't tell the whole story.
People are an important component of growth. Japan is facing aging population negatively impacting their GDP.
What is greed for you? Building companies in the hope of becoming millionaire? If yes, then all the big economies have followed this path. Even China and Japan were greedy in that sense.
They do have robust social safety nets and a culture of civic mindnedness which improves quality of life over many other capitalist countries (particularly the US) but also "black companies" and salarymen working themselves to death.
No need to thank the “Europeans”. You’re welcome.
1. Did they really end slavery if you rename it to something else? [0]
2. You didn't end caste system. If anything you made it more rigid
> No need to thank the “Europeans”. You’re welcome.
Thank you for all the massacres and famines Europeans. [1] [2]
[0]. https://en.wikipedia.org/wiki/Indian_indenture_system
[1]. https://www.theguardian.com/commentisfree/2019/apr/12/britai...
[2]. https://en.wikipedia.org/wiki/Bengal_famine_of_1943
I didn't even scrape the surface of the atrocities you did.
That’s why, still today, India is the country with the most slaves in the world, continuing their long tradition of the practice: https://en.wikipedia.org/wiki/Slavery_in_India