India's GDP PPP is 1/3rd of China's right now with the same population. The gap is hardly going to be 10-20 times. China's rate of development is not going to accelerate. It's about 10-15 years out from South Korea, if I had to guess, based on demographics, productivity levels, and GDP per capita PPP. Again, if you believe China will converge towards Japan and South Korea, then Japan's long stagnation and South Korea's coming stagnation should tell you all you need to know about China's trajectory. India does not need to accelerate its development to catch up to China, nor does it need to catch up completely to be much stronger in relation to China than it is today.
An India that's just 50% of China's GDP would be much more of a threat than it is today, especially with a higher population. I think a miracle in technology or policy would need to happen to prevent India from reaching that target in ~15-20 years.
In the First Industrial Revolution, the British ended up with the highest productivity levels in the world. That translated into the highest wages and also living standards.
In the Second Industrial Revolution, we saw the US dominate. Again, that translated into the world's highest productivity, wages and living standards.
Now we see China as the undisputed overall leader in terms of the technologies underlying the Third Industrial Revolution.
Furthermore, the overall Chinese lead is increasing every year.
In terms of wind, solar, batteries and electric transport - it is acknowledged that the Chinese lead is unassailable.
In terms of AI, Biotech, semiconductors - China is currently behind. But within 10 years, I expect Chinese companies will have caught up completely and may start surpassing the US.
This represents a NEW TECHNOLOGICAL FRONTIER, where large improvements in productivity are to be expected.
That should translate into China having higher productivity, wages and living standards than the USA.
This is outlined in Rifkind's "Third Industrial Revolution"
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If we use US productivity levels as a benchmark, Brazil and Mexico have stagnated at a level 4x smaller.
That is where I think India will end up
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