The phrase "economy surpasses" gives a very different impression. The only thing I can take is that India is now generating more income. I'm not sure what to make of it because if one were to look at the income/wealth distribution numbers where the richest 1% hold nearly 60% of India's wealth [0]. It would be interesting to see if this income is enough for India (under equitable distribution assumptions), to make India "unpoor". IF so, it would mean that India does not lack the money or resources. It lacks the means to distribute its resources.
Yeah and how is that number skewed in the US... India has a much better distribution than most Western countries. The problem is that it's divided over a billion people. UK has a significantly smaller population.
India still has a long way to go on a social level (as does all of humanity in a sense) but I think things are really improving there at least, especially compared to Pakistan and Bangladesh.
"Owing to Britain's recent Brexit-related problems.." -- I'm not aware of any Brexit-related economic problems. On the contrary, all news I've seen since has been positive, to the surprise, and disappointment, of many.
Nations typically publish GDP numbers in their own currency. To compare them you would have to convert them to a common base. Since the Brexit vote result has become known, the GBP has fallen to its lowest level since 1985. This would harm its ranking in a comparison like this.
A low pound is good for British exports and tourism to the UK, but harms British buying power of imported goods. If it's good or bad depends on your viewpoint, I guess.
I saw some news about price rises of various technological goods that are imported. That wasn't good news.
And all the news about how the pound has tanked against foreign currencies, which will eventually push up the cost of almost everything. The days in which physical UK exports were made out of commodities that aren't themselves imported are long gone.
Non-physical exports might fare better, but the news about banking and financials has been about how they're doing due diligence on moving to elsewhere in Europe, so that's bad news.
Sure, I've heard some positive news too, but I've heard a lot of negative news. How come you haven't?
The UK pound is down and as such the value of a lot of things in the UK is worth less expressed in US$. That doesn't mean there's a structural problem.
I don't think that anybody on the UK is disappointed as such, more just deeply cautious of any good news being taken too seriously - given that there is still literally no idea what the UK's geopolitical position will be like in two years.
A country as large as India, with over a billion citizens, ought to have a bigger economy than a small island nation that has turned its back on its historical engines of wealth and power.
[+] [-] bgarbiak|9 years ago|reply
[+] [-] bandrami|9 years ago|reply
[+] [-] orblivion|9 years ago|reply
[+] [-] 3pt14159|9 years ago|reply
[+] [-] f_allwein|9 years ago|reply
[+] [-] denzil_correa|9 years ago|reply
[0] https://www.credit-suisse.com/us/en/about-us/research/resear...
[+] [-] devoply|9 years ago|reply
[+] [-] dep_b|9 years ago|reply
[+] [-] eklavya|9 years ago|reply
[+] [-] unknown|9 years ago|reply
[deleted]
[+] [-] karmacoda|9 years ago|reply
[+] [-] WJW|9 years ago|reply
A low pound is good for British exports and tourism to the UK, but harms British buying power of imported goods. If it's good or bad depends on your viewpoint, I guess.
[+] [-] d3ckard|9 years ago|reply
This might help you see some problems.
[+] [-] EliRivers|9 years ago|reply
And all the news about how the pound has tanked against foreign currencies, which will eventually push up the cost of almost everything. The days in which physical UK exports were made out of commodities that aren't themselves imported are long gone.
Non-physical exports might fare better, but the news about banking and financials has been about how they're doing due diligence on moving to elsewhere in Europe, so that's bad news.
Sure, I've heard some positive news too, but I've heard a lot of negative news. How come you haven't?
[+] [-] dep_b|9 years ago|reply
[+] [-] matthewmacleod|9 years ago|reply
[+] [-] paki123|9 years ago|reply
[deleted]
[+] [-] douche|9 years ago|reply
[+] [-] SixSigma|9 years ago|reply
slavery, rum, tobacco, wool, sugar, coal & sea power