Growth star India overtakes China as world's fastest growing major economy. GDP growth in India hits 7.3pc at the end of 2015 and will rise to as high as 7.6pc in 2016 - India's favourable demographic profile gives it the edge over an ageing China.
By Mehreen Khan
3:30PM GMT 08 Feb 2016
India has overtaken China as the fastest growing major economy in the world, expanding by 7.3pc and cementing its position as one of the sole bright spots in a flailing global economy.
Economic growth is now expected to hit the high of 7.6pc in 2016, according to Delhi’s Central Statistics Office, higher than the 7.2pc reached in 2014. India’s quarterly growth, measured from the three months to December, was in line with expectations at 7.3pc, and outstripped China’s 6.9pc at the end of last year.
India’s growth numbers have been the beneficiary of a major statistical revision, which propelled GDP growth from 4.7pc to 6.9pc for the 2013-14 fiscal year.
But the economy has been feted by the likes of the International Monetary Fund, which projects GDP growth of 7.5pc over the next two years.
• Why it’s finally time for India to start shining
The collapsing price of oil has acted as a major boon for the world’s second most populous nation, and has helped tame the food price inflation that has long plagued the economy.
We can forsee stable growth going forward in India because its economic and public policy are healthy and progressive. However, what we see in China is regressive everywhere. Whatever the numbers are on paper, and whatever the amounts of real cash are that float through various hands, virtually all of China’s human and natural assets have been gutted by decades of abyssmally predatory and Neolithic public policy. The stubborn structural problems resulting from this are economic, social, cultural, and political. Now that these have been exposed, capital will systematically flee from China, and that includes much Chinese capital. China’s economy will continue to go down until its present government falls, and it will be decades before China again experiences anything like 7% growth.
So I really feel that what is useful for us Westerners who have Asian interests and connections, is to simply ignore China completely and to focus on the bright side of Asia, which is India. That, in real fact, has always been the case throughout history. It has always been India which has been the Light of Asia.
So invest in India, folks! I send money to India every month because that’s my guidance, and I guarantee you that my guidance is only the very best.
Do not have a question, do not have a problem, do not have a conflicting theory, do not pass go, do not collect $200.00, do not waste your life pissing around in the black vortex of Western doubt-mind, do not impose conditions, do not have an attitude, and do not ask why. Just give to the benevolent Indian cause of your choice, and do not look back. Simply forget that it even happened. It’s in God’s hands now.
When you give that way, your heart will be blessed, your life will be blessed, you will obtain a better rebirth, and you will obtain God. God is my friend and he told me this good news personally so that I could pass it on to you all.
But if you’re an investor, and are looking for a financial (“finite”) return on your assets, your best bet in Asia is India as well. India will inherit the vast amounts of foreign capital that are already fleeing China as I write, and this will initiate a wave of new development that you can be in on the ground floor of, if you act now. A lot of Chinese capital will, in fact, wind up in India in the forseeable future as well.
Most of the free assets in the Chinese cultural sphere of influence are held outside of the Chinese mainland, by huge clans and other groups who have operated across natural boundaries for centuries, and in some cases, literally for millennia. This is old savvy money, it is literally more money than the Chinese government controls, and it is structurally incapable of anything but the enhancement of solid growth. India’s upcoming economic development will initiate a huge ongoing gravy train, all the way across south and southeast Asia, and to America and other points West. Whenever China gets its act together with a sane government and some certifiable human behavior, it also will be invited to participate, but that’s way down the line at this stage. Right now, the rest of the planet needs to be free from the instability, blind idiocy, and pure damned unmitigated barbarity of current Chinese mainland behavior.
Maitreya Meher Namo Namo
Vishveshwar, 10 Feb 16