The rapidly diversifying Indian economy will be the most dynamic in the world, ahead of China now that it’s involved in trade war with US in the 2020s, according to latest research.
India will be the base of the economic heart of global growth over the next decade, ahead of China, according to latest research. There will be also a continued slowdown in global growth over the next decade. The economic hub of global growth has evolved in recent years, from China to neighboring India, where it is likely to stay in the next decade. Researchers attribute the rapid growth prospects of India makes it particularly well placed to continue to diversify into new areas. India has made efforts to diversify its export base to much more complex sectors, such as chemicals, vehicles and some electronic products.
The new data also reveals a decline in Chinese exports. Growth projections still show China’s growth above the global average, but at only 4.4% per year for the next decade. The slowdown from the current trend is therefore significant. These growth projections are based on measures of the economic complexity of each country, which analyzes the diversity and sophistication of productive capacities integrated into exports and the ease with which each state could diversify further by expanding these capacities.
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