India's Economy Will Overtake The U.S. By 2050, Here's How
President Trump has pointed to India's economic growth to show that the U.S. is lagging, but how do India and the U.S. really compare?
The West held most of the world's wealth through the 19th and 20th centuries, while comparatively, the rest of the world lived mostly in poverty. The 1970s and 80s, however, brought fast economic growth to those poorer, less-developed countries, most notably to India.
India's GDP has grown immensely since 1990. Today, the country's GDP is growing by an average of 7% per year, which is considerably higher than the global average of 2.6%. Researchers even predict India could hold up to 15% of global wealth by 2050, surpassing the U.S. and the European Union.
President Donald Trump has pointed to this growth to show that the U.S. economy is lagging behind, but experts say the comparison is a lot more complicated than that. So how do India and the U.S. really compare, and what does India's economic growth mean for the international economy?
Washington Post: Sorry, Donald Trump: The U.S. can't grow like India and China