January 24, 2007
WHAT IS THIS UK OF WHICH THEY SPEAK?:
Indian economy 'to overtake UK' (Damian Grammaticas, 1/24/07, BBC News)
Within a decade India can overtake Italy, France and the UK to become the world's fifth largest economy if it keeps up it's current pace of expansion, according to analysts at Goldman Sachs.India has shifted into a higher gear, they believe, because a decade of reforms have opened the country to greater competition, and spurred industries to become more efficient.
By 2050 India's economy could be larger even than America's, only China's will be bigger, the bank predicts.
The result will be huge demand from this new giant.
Within 15 years Indians should, on average, be four times richer than today, buying five times as many cars, and the country will burn three times as much crude oil to power its growth, putting yet more strain on the world's resources.
Yet the Realists still want to yoke us to Europe. Posted by Orrin Judd at January 24, 2007 8:12 AM
--putting yet more strain on the world's resources. --
How dare those darkie upstarts.......
Posted by: Sandy P at January 24, 2007 10:10 AMWill most of the new-found wealth be in the north?
Posted by: Bartman at January 24, 2007 11:43 AM"buying five times as many cars" Where are they going to put those people and those cars? They are already driving around in parking lots.
Posted by: ic at January 24, 2007 6:36 PM