Indian Economics Thread II
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Yes, booming all the way to the stars!!
Honestly, I'm happy for India, given how UK exploited India and stole so much of its wealth.... Jai Hind!
GT Voice: India’s leap over UK economy a bitter lesson for London
By Global Times Published: Sep 04, 2022 08:38 PM
Illustration: Liu Rui/GT
India has overtaken UK to become the world's fifth-largest economy, according to the latest calculations by Bloomberg. The piece of news is set to serve as a bitter reminder to UK's incoming prime minister of the bleak economic outlook facing the country, which is in urgent need of being pragmatic and courageous to resolve the real problems perplexing UK.
According to the GDP figures from the IMF, India already overtook UK in the final three months of 2021, and its lead over the UK widened in the first quarter this year. On an adjusted basis and calculated in US dollars, the size of the Indian economy reached $854.7 billion in the first three months of this year, while that of the UK was only $816 billion. The IMF projected that India would overtake UK on an annual basis in 2022.
For a long time, there have been no short of Indian media reports accusing UK of pointing a finger at India's foreign policy and domestic issues with a kind of colonial arrogance. Now as a former British colony, India's leap over the UK in economic size could be seen as a development of historical significance, as well as a blow to those who are still addicted to the memories and colonial dreams of the past glory.
Objectively speaking, there exists certain inevitability for India to surpass UK in economic size. With its massive demographic dividend, India is currently the fastest growing major economy in the world, with GDP expanding 13.5 per cent in the April-June quarter, the quickest pace in many years.
By comparison, UK is facing the growing risks of a recession that the Bank of England says may last well into 2024. Against this backdrop, the catch-up and overtaking between the two vastly different economies is a sure thing.
But the timing of the news is delicate. UK Conservative Party members are set to choose the new prime minister on Monday, who will oversee a nation facing the highest levels of inflation in four decades and a myriad of societal problems arising from the economic decline. There is no doubt the incoming UK prime minister's top priority is to deal with the problems such as soaring energy prices and cost of living.
Inflation in the UK rose above 10 percent for the first time in four decades in July, and Goldman Sachs recently warned that the figure could top 22 percent next year, close to the post-war record set in 1975.
It should be noted that the economic problems facing Britain today are due in large part to its geopolitical misjudgment that London has politicized normal economic and trade cooperation.
Following the reckless and disastrous Brexit, UK has always followed the US in making waves on the geopolitical arena. If anything, the surging inflation in the UK is partly caused by its joining US-led sanctions against Russia, which has led to a jump in energy prices.
What's more ridiculous is that UK's prime minister candidates have competed on their inflammatory rhetoric toward China, a major trade and economic partner for many years. At a time when UK politicians' attitude toward China is increasingly tough and irrational, the country's economic problems including inflation, soaring cost of living and risks of a recession is to become more serious.
What UK needs now is to look itself squarely in the mirror, abandon mindset of playing geopolitical gambit by always following the steps of Washington. There is no good in continuing to play geopolitical gimmicks. London could try to turn to India, China and other emerging market economies to seek more opportunities.
The world's economic gravity has been moving steadily eastward, and the Asian Century is coming. UK needs to jump on the Asian bandwagon and consider how to better cooperate with Asian economies, so that it won't be left far behind by India.
GT Voice: India’s leap over UK economy a bitter lesson for London
By Global Times Published: Sep 04, 2022 08:38 PM
Illustration: Liu Rui/GT
India has overtaken UK to become the world's fifth-largest economy, according to the latest calculations by Bloomberg. The piece of news is set to serve as a bitter reminder to UK's incoming prime minister of the bleak economic outlook facing the country, which is in urgent need of being pragmatic and courageous to resolve the real problems perplexing UK.
According to the GDP figures from the IMF, India already overtook UK in the final three months of 2021, and its lead over the UK widened in the first quarter this year. On an adjusted basis and calculated in US dollars, the size of the Indian economy reached $854.7 billion in the first three months of this year, while that of the UK was only $816 billion. The IMF projected that India would overtake UK on an annual basis in 2022.
For a long time, there have been no short of Indian media reports accusing UK of pointing a finger at India's foreign policy and domestic issues with a kind of colonial arrogance. Now as a former British colony, India's leap over the UK in economic size could be seen as a development of historical significance, as well as a blow to those who are still addicted to the memories and colonial dreams of the past glory.
Objectively speaking, there exists certain inevitability for India to surpass UK in economic size. With its massive demographic dividend, India is currently the fastest growing major economy in the world, with GDP expanding 13.5 per cent in the April-June quarter, the quickest pace in many years.
By comparison, UK is facing the growing risks of a recession that the Bank of England says may last well into 2024. Against this backdrop, the catch-up and overtaking between the two vastly different economies is a sure thing.
But the timing of the news is delicate. UK Conservative Party members are set to choose the new prime minister on Monday, who will oversee a nation facing the highest levels of inflation in four decades and a myriad of societal problems arising from the economic decline. There is no doubt the incoming UK prime minister's top priority is to deal with the problems such as soaring energy prices and cost of living.
Inflation in the UK rose above 10 percent for the first time in four decades in July, and Goldman Sachs recently warned that the figure could top 22 percent next year, close to the post-war record set in 1975.
It should be noted that the economic problems facing Britain today are due in large part to its geopolitical misjudgment that London has politicized normal economic and trade cooperation.
Following the reckless and disastrous Brexit, UK has always followed the US in making waves on the geopolitical arena. If anything, the surging inflation in the UK is partly caused by its joining US-led sanctions against Russia, which has led to a jump in energy prices.
What's more ridiculous is that UK's prime minister candidates have competed on their inflammatory rhetoric toward China, a major trade and economic partner for many years. At a time when UK politicians' attitude toward China is increasingly tough and irrational, the country's economic problems including inflation, soaring cost of living and risks of a recession is to become more serious.
What UK needs now is to look itself squarely in the mirror, abandon mindset of playing geopolitical gambit by always following the steps of Washington. There is no good in continuing to play geopolitical gimmicks. London could try to turn to India, China and other emerging market economies to seek more opportunities.
The world's economic gravity has been moving steadily eastward, and the Asian Century is coming. UK needs to jump on the Asian bandwagon and consider how to better cooperate with Asian economies, so that it won't be left far behind by India.
Jai Hind!
Talk is Cheap, Show Me The Money Apu. 
(Picture credit score: Intel)
Yesterday India’s transport minister is claimed to have introduced Intel can be constructing a chipmaking fab within the nation. Massive information, proper? Um, no. Truly, Intel is not doing something of the kind.
In line with an announcement from Intel (opens in new tab), the corporate says it has no present plans to construct a producing facility within the nation.
This comes at a time when Intel is investing massive sums of cash into the chipmaking facet of its enterprise. A few of that cash is coming from the not too long ago handed CHIPS and Science Act, a US initiative to beef up home semiconductor manufacturing amenities, and meaning will probably be invested into US-based amenities and fabs. It additionally signifies that Intel is (opens in new tab) in locations that the US authorities does not see match to obtain it, particularly China.
Although Intel does produce other money to spend on chipmaking, and it has different fabs and meeting amenities exterior of the US, together with in Eire, Israel, Costa Rica, and Malaysia.
Intel can also be constructing a serious chipmaking fab in Germany, which can be joined by different new or improved amenities within the EU.
But nothing in India and apparently no plans to construct there but. That is regardless of India’s finest efforts to lure semiconductor corporations to that area of the world. India’s authorities not too long ago introduced a (opens in new tab) to the nation, primarily aiming to chop down prices for any would-be investor.
In line with journalist Debby Qu, nonetheless, Intel could find yourself increasing in some capability in India, in a roundabout approach. I do know, that is precisely the alternative of what the corporate has stated, however reportedly a consortium made up of a number of corporations together with Tower Semiconductor—an organization not too long ago acquired by Intel—agreed to take a position $3B in a chip fabrication plant within the Indian state of Karnataka. Although the way forward for that funding could also be up within the air for now.
Although there’s one factor that is very clear: governments are determined to lure chipmakers to their shores, and when it comes all the way down to it, that finally means a battle of who can woo a chipmaker extra (throw extra cash and subsidies at them).
Indian Minister Says Intel Is Constructing A Chip Manufacturing Unit Within The Nation. Intel Disagrees
On Sep 8, 2022
(Picture credit score: Intel)
Yesterday India’s transport minister is claimed to have introduced Intel can be constructing a chipmaking fab within the nation. Massive information, proper? Um, no. Truly, Intel is not doing something of the kind.
In line with an announcement from Intel (opens in new tab), the corporate says it has no present plans to construct a producing facility within the nation.
This comes at a time when Intel is investing massive sums of cash into the chipmaking facet of its enterprise. A few of that cash is coming from the not too long ago handed CHIPS and Science Act, a US initiative to beef up home semiconductor manufacturing amenities, and meaning will probably be invested into US-based amenities and fabs. It additionally signifies that Intel is (opens in new tab) in locations that the US authorities does not see match to obtain it, particularly China.
Although Intel does produce other money to spend on chipmaking, and it has different fabs and meeting amenities exterior of the US, together with in Eire, Israel, Costa Rica, and Malaysia.
Intel can also be constructing a serious chipmaking fab in Germany, which can be joined by different new or improved amenities within the EU.
But nothing in India and apparently no plans to construct there but. That is regardless of India’s finest efforts to lure semiconductor corporations to that area of the world. India’s authorities not too long ago introduced a (opens in new tab) to the nation, primarily aiming to chop down prices for any would-be investor.
In line with journalist Debby Qu, nonetheless, Intel could find yourself increasing in some capability in India, in a roundabout approach. I do know, that is precisely the alternative of what the corporate has stated, however reportedly a consortium made up of a number of corporations together with Tower Semiconductor—an organization not too long ago acquired by Intel—agreed to take a position $3B in a chip fabrication plant within the Indian state of Karnataka. Although the way forward for that funding could also be up within the air for now.
Although there’s one factor that is very clear: governments are determined to lure chipmakers to their shores, and when it comes all the way down to it, that finally means a battle of who can woo a chipmaker extra (throw extra cash and subsidies at them).
Talk is Cheap, Show Me The Money Apu.
Indian Minister Says Intel Is Constructing A Chip Manufacturing Unit Within The Nation. Intel Disagrees
On Sep 8, 2022
(Picture credit score: Intel)
Yesterday India’s transport minister is claimed to have introduced Intel can be constructing a chipmaking fab within the nation. Massive information, proper? Um, no. Truly, Intel is not doing something of the kind.
In line with an announcement from Intel (opens in new tab), the corporate says it has no present plans to construct a producing facility within the nation.
This comes at a time when Intel is investing massive sums of cash into the chipmaking facet of its enterprise. A few of that cash is coming from the not too long ago handed CHIPS and Science Act, a US initiative to beef up home semiconductor manufacturing amenities, and meaning will probably be invested into US-based amenities and fabs. It additionally signifies that Intel is (opens in new tab) in locations that the US authorities does not see match to obtain it, particularly China.
Although Intel does produce other money to spend on chipmaking, and it has different fabs and meeting amenities exterior of the US, together with in Eire, Israel, Costa Rica, and Malaysia.
Intel can also be constructing a serious chipmaking fab in Germany, which can be joined by different new or improved amenities within the EU.
But nothing in India and apparently no plans to construct there but. That is regardless of India’s finest efforts to lure semiconductor corporations to that area of the world. India’s authorities not too long ago introduced a (opens in new tab) to the nation, primarily aiming to chop down prices for any would-be investor.
In line with journalist Debby Qu, nonetheless, Intel could find yourself increasing in some capability in India, in a roundabout approach. I do know, that is precisely the alternative of what the corporate has stated, however reportedly a consortium made up of a number of corporations together with Tower Semiconductor—an organization not too long ago acquired by Intel—agreed to take a position $3B in a chip fabrication plant within the Indian state of Karnataka. Although the way forward for that funding could also be up within the air for now.
Although there’s one factor that is very clear: governments are determined to lure chipmakers to their shores, and when it comes all the way down to it, that finally means a battle of who can woo a chipmaker extra (throw extra cash and subsidies at them).
Intel should sue them for liable and dragging their company's name through the mud.
What was India's "growth" in 2020 and 2021, tidalwave?
Bro You need a microscope to see the decimal point between the 2 numbers...lol
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