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India's Economy Surpasses That Of Great Britain

Discussion in 'World Economy' started by randomradio, Dec 17, 2016.

  1. BMD

    BMD Colonel ELITE MEMBER

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    Just as long as you understand it's the average exchange rate over the period that the IMF and World Bank use.

    Nominal, you are about 1/5th of China and 40% in PPP.
     
  2. Vidyanshu

    Vidyanshu Lieutenant FULL MEMBER

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    1.JPG

    "India is the seventh largest economy worth $2.29 trillion - just $50 billion less than the current UK's GDP, which will be bridged by end of this fiscal," IMF had said.
     
  3. randomradio

    randomradio Colonel Technical Analyst

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    Fine then, why don't we wait for IMF and WB to reveal this year's UK GDP?
     
  4. BMD

    BMD Colonel ELITE MEMBER

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    Exactly, and they will.

    But frankly sovereignty out-ranks economy anyway.
     
  5. Tejasmk3

    Tejasmk3 2nd Lieutant FULL MEMBER

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    In time, there is still a long way to go, but still enjoy every success on the way!
    This is quite apt:
     
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  6. Picdelamirand-oil

    Picdelamirand-oil Lt. Colonel MILITARY STRATEGIST

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    There is two things very different
    • What is the wealth of a country
    • What is its power
    The wealth of a country is measured by its GDP, but a large part of it is used only to support the population. It is only when there is a surplus in relation to this need that the country can choose how it will affect that surplus. If the country has a large population, more of its wealth will be devoted to this need compared to a country of smaller size.

    This is why GDP is a bad indicator for measuring the power of a country. A better indicator is the amount of government revenue. And as the government in general favors domestic purchases it is this amount in PPP that is the most representative.

    I made a table that shows a comparison between the most powerful countries (Data are from CIA Factbook)

    [​IMG]
     
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