Finance, Forex and Investments

Why are China and India said to be future economic superpowers?

Why are they said to be the future "economics superpowers"? I can't picture either of them beating us. Fact is: In China, over 700 million people live in poverty. The GDP per capita of China is only $1700. In India, over 600 million people live in poverty. The GDP per capita in India is only $1200. Now compare this to America: poverty: probably 5 million. GDP per capita: $45,000. Economy of the United States: $13 trillion Economy of China: $3 trillion Economy of India: $2 trillion So, how exactly are these countries going to be the "economic superpowers"? Legitimate answers only please. Am, bigots like you will be reported. Why isn't your account canceled yet? DD213, you're reported as well. I said I want legitimate answers. Do you not understand English? I don't want something that's an American myth.

Public Comments

1. I agree. Look at recent examples...China can't build a school building that withstands an earthquake and the country is crippled for months from a snow storm. India is still worshiping cows roaming through their ghettos and most of their better educated people are moving to the US and buying 7-11's and Quickie Marts. Super power I don't think so.
2. HAHA India will never be an economic superpower. India is a third world dump with no future. China probably will if they can deal with there overpopulation.
3. they are improving and in 10 years they will be better than the US. depends on what happens next, cant judge
4. Sweat shops and child labour spring to mind.In other words cheap labour which the West cant compete with.
5. But China owns a larger percent of U.S. They may end up chopping it up state by state on who will own what This economy is falling faster then The Lakers Did last night. Celtics Pride Baby We the Champs K.G. My Dude from Chi
6. Americans living in Poverty live down the road from food and Jobs better than living in china and India where you cannot even see the chance of either
7. ... Meanwhile, China, which has artificially undervalued its currency by up to 40% with the purchase of trillions and trillions of dollars, has the potential to render the US$ completely worthless if it releases that money into the market. The rate of GDP growth of China over the last decade has averaged well over 9%, as opposed to 2.4% in the US. China is pursuing an aggressive outward-oriented economic development strategy which has proven extremely successful both in Japan and South Korea, both of which are now net exporters and world class economies (Japan is the world's second largest, and in 1955 South Korea was determined to be the least promising economy worldwide by the UN where now it is a leading industrial power). With a GDP per Capita of only about 10,000$ China's economy will match the US economy in size (in terms of PPP); the current GDP per capita of China is not, as you claim, $1700 (which is even lower than the actual nominal GDP per capita), but $5,300 in terms of PPP (Check the CIA world factbook, or the World Bank); and this with a grossly undervalued yuan. I agree that India is less likely to become an economic superpower; for one thing, it cannot compete with the Chinese economy and shows much slower economic growth and development. But China is already the world's second largest exporter (after Germany, the industrial giant), one of the fastest growing economies in the world and its government has gone a long way to openness since Mao's death; it's looking quite promising.
8. The fact that these two countries have such massive populations which are to a large degree under utilised economically shouldn't colour your opinion. Obviously there are vast differences between China and India but what they do have in common is the fact that they are encouraging massive increases in university education for their young people. Just look at the price of oil at the moment, which is being exacerbated by the demand from those two countries. This will only become more of a problem in the future due to their economic expansion. I don't think it will be in the next 10 years, but give it 20/25 years and these two countries will be at the top of the economic pile. P.S. Just one slight criticism. You phrase your question: "...beating us." I don't think that you should look at the scenario with this confrontational outlook. Many countries around the world who are not super powers economically still run very successful economies.
9. May have something to do with population, as Chna has 1,318M people, and India has 1,132, they have the larges populations in the world, and it's people that count.
10. The only thing that China and India have going for it! Is!Cheap labour and an expanding economy!Plus the fact they are allowed to dump cheap goods on other nations!
11. I don,t think they will be either. Maybe cheap goods supermakers that's all, I don,t like buying goods from China because of their human rights abuses anyway.Unfortunately this is difficult to achieve as they seldom put made in China on their products.
12. They make almost all mass produced goods. If they decided to stop, the rest of the world would caught by the short hairs, like the Saudi's screwed America over oil supplies. The fact they live in poverty and the GDP is seperate from economic power. Take a look at their inport/export profits, and how much economic growth they have.
13. Because of work.