ALPI new opening in Prato - Alpi World
ALPI new opening in Prato - Alpi World
ALPI new opening in Prato - Alpi World
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Ch<strong>in</strong>a became the second-largest economy last year,<br />
overtak<strong>in</strong>g Japan, which had held that position s<strong>in</strong>ce<br />
1968. Ch<strong>in</strong>a’s 2010 GDP came <strong>in</strong> at $5.88 trillion<br />
compared to Japan’s $5.47 trillion.<br />
By some economic measures, the gaps between the<br />
world’s leaders are even wider: Ch<strong>in</strong>a’s per-capita GDP<br />
is about $4,000, compared with Japan’s $42,000 and<br />
the USA’s $47,000. 1. Ch<strong>in</strong>a will quickly overtake the<br />
United States as the world’s most powerful economy.<br />
Ch<strong>in</strong>a’s stunn<strong>in</strong>g<br />
economic rise is<br />
one of the biggest<br />
stories of this<br />
generation. In just<br />
three decades<br />
s<strong>in</strong>ce beg<strong>in</strong>n<strong>in</strong>g to<br />
embrace market<br />
economics,<br />
Ch<strong>in</strong>a has left its<br />
desperate poverty<br />
beh<strong>in</strong>d to become<br />
the world’s top<br />
export<strong>in</strong>g nation.<br />
The transformation<br />
has occurred so<br />
quickly that myths<br />
and misperceptions<br />
abound about the<br />
challenges and<br />
opportunities that<br />
Ch<strong>in</strong>a poses to<br />
America and the<br />
rest of the world.<br />
This year, Ch<strong>in</strong>a’s economy is expected to<br />
produce about $5 trillion <strong>in</strong> goods and services.<br />
That would put it ahead of Japan as the world’s<br />
second-biggest national economy, but it would<br />
still be barely one-third the size of the $14 trillion<br />
U.S. economy and well beh<strong>in</strong>d the European<br />
Union, if taken as a whole.<br />
One reason Ch<strong>in</strong>a’s economy is so<br />
big is simply that it has 1.3 billion<br />
people. But Ch<strong>in</strong>a’s per capita gross<br />
domestic product is only one-seventh<br />
the U.S. level. And <strong>in</strong> household liv<strong>in</strong>g<br />
standards, Ch<strong>in</strong>a lags even further.<br />
In 2040, the Ch<strong>in</strong>ese economy will reach $123<br />
trillion, or nearly three times the economic output of<br />
the entire globe <strong>in</strong> 2000. Ch<strong>in</strong>a’s per capita <strong>in</strong>come<br />
will hit $85,000, more than double the forecast for the<br />
European Union, and also much higher than that of<br />
India and Japan. In other words, the average Ch<strong>in</strong>ese<br />
megacity dweller will be liv<strong>in</strong>g twice..<br />
India has a tough time seek<strong>in</strong>g any recognition for its<br />
achievements. That is India’s Prime M<strong>in</strong>ister view also. He<br />
expressed his misgiv<strong>in</strong>gs about it recently. Ch<strong>in</strong>a gets all<br />
the cheers, even though their achievements are a bit phony.<br />
With $1.5 Trillion economy <strong>in</strong> Year 2012, the third largest <strong>in</strong><br />
the world, India will be <strong>in</strong> the lead over and above most of<br />
Europe and Japan. With high valued merchandise and services<br />
exports of $300 Billion, India will be <strong>in</strong> a better shape than<br />
Ch<strong>in</strong>a, f<strong>in</strong>ancially. Ch<strong>in</strong>a may have $800 Billion <strong>in</strong> merchandise<br />
exports, but these are low marg<strong>in</strong> low value merchandise with<br />
poor quality and poor durability rat<strong>in</strong>g. Their export numbers<br />
may look attractive, but return is poor. Low return is the price<br />
they have to pay for a huge capital <strong>in</strong>put. In the end it leaves<br />
them noth<strong>in</strong>g to crow about. All arguments about poverty and<br />
under privileged people <strong>in</strong> India, although true, are a broad<br />
sword, which the West uses to discredit India. They miss out<br />
on achievements and successes. They have to look at their own<br />
poverty and under-privileged class before they criticize India<br />
India’s economy expanded 7.9 percent<br />
<strong>in</strong> the second quarter of 2009-10 and<br />
is expected to grow over 7 percent<br />
<strong>in</strong> the whole fiscal. Accord<strong>in</strong>g to the<br />
key policy makers of Prime M<strong>in</strong>ister<br />
Manmohan S<strong>in</strong>gh’s government, India<br />
would return to 9 percent growth<br />
trajectory <strong>in</strong> two-three years.<br />
India’s economy expanded 7.9<br />
<strong>in</strong> the second quarter of 200<br />
is expected to grow over 7<br />
he whole fiscal. Accord<strong>in</strong><br />
of Prime<br />
23