CHINA, INDIA, AND THE FUTURE OF THE GLOBAL ECONOMY
CHINA, INDIA, AND THE FUTURE OF THE GLOBAL ECONOMY

Summary/Abstract: In the first part of the paper, an overview of the long-term global economic growth forecasts is presented. Next an extrapolative forecast of global GDP and an estimation of the shares of China and India in the global production by 2050 are presented. The evolutionary model of competition allows estimating the competitiveness of national economies; therefore, in the second part of the paper, we present also the results of estimation of the competitiveness of the economies of India and China after World War II. One aim of that research is to compare the competitiveness of China and India with the leaders of economic development in the twentieth century, namely the United States, Great Britain, Germany, Japan, and the European Union. A possible scenario of development for the next 40 years is presented in the end of the paper.

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