Just as we are looking forward to the easing of negotiations between the United States and China, China's strong GDP growth will once again lead the world, and aid has also returned to the original track. However, compared to the United States and China, India's economic growth has been unique this year, but the world has been shocked. So, this leads to a new **: who is the most likely winner in the competition of the world's three major economies?
The U.S. Department of Commerce announced a revised economic growth rate for the third quarter to 52%, an increase of 03 percentage points.
This adjustment has become a new focus for global observers, who are inevitably frivolous in their predictions that the U.S. economy will grow faster than China's.
However, the true meaning and potential implications of this number may be overlooked by most people. To understand the deeper implications of this question, we need to further clarify two concepts: the sequential growth rate and the year-on-year growth rate.
The GDP growth rate reported in the United States is usually a quarter-on-quarter growth, and the quarter-on-quarter growth rate for the quarter is actually 13%, with an annual growth rate of 52%。
If calculated on a year-on-year basis, the year-on-year growth in US GDP in the third quarter was actually only 28%。
China's GDP grew by 4% year-on-year in the same quarter9%, the difference is already quite clear: China is still ahead of the United States in terms of real economic growth.
While the sequential growth in the United States is influential globally, the year-on-year growth rate is undoubtedly a more substantial measure of the real growth rate of the domestic economy.
Among the world's top ten economies, China's economic growth rate is not the first, and the new owner of this crown is precisely India.
The country's GDP growth rate in the third quarter of this year was 7.%.6%, significantly surpassing China and the United States, taking the top spot among the top ten economies.
India's GDP grew by 7 percent year-on-year, driven by higher GDP growth1%, which is equivalent to 26 trillion US dollars, and it still maintains its position as the world's fifth-largest economy.
To sum up, the rise of the Indian economy is not only reflected in its GDP growth quarter-on-quarter, but also in its rapidly rising manufacturing, construction and mining sectors.
India's "manufacturing sector" has become the leader of its basic industries with a huge growth rate of nearly 14%, while the construction industry has also grown by more than 13%, the mining industry and the electricity and gas industries have grown by more than 10%, and the financial services and real estate industries have also reached a growth level of more than 6%.
If we look at the challenges and possibilities that India will face this year and next, it is natural that the future detour into the top three in the world will naturally become the focus of attention.
Under the rapidly changing pattern of the global economy, especially in the geopolitical environment of the Federal Reserve's interest rate hikes, will there be a new qualifying competition?Who can stand tall in this momentum, and will India be able to take the lead and gain the upper hand?
In the global picture, India's progress has captured the world's synchronized attention.
India's strategy of buying low prices** after the Russia-Ukraine conflict has enabled them to make great progress in the economic war. In the changes in the GDP gap between China and the United States during the US dollar interest rate hike cycle, India is like a chess player in the lead, using high oil prices to achieve the goal of economic recovery.
At the same time, India's GDP gap with Japan's is only $520 billion. If India can continue to maintain this high growth rate and Japan continues to depreciate its exchange rate, then India will likely overtake Japan to become the world's third-largest economy in the next few years.
In the face of India's rise, it is necessary to think about what the relationship between China, the United States, and India should be compared to the two opposing sides
China and India, as the two major engines of the global economy, each with 52% and 71% growth leads the world, while the U.S. leads the world with 2A growth rate of 5% is not far behind.
This situation bodes well for how these three giants will reposition their roles in the future in the world
Looking back at the top 10 GDP companies in the first three quarters of 2019 and revisiting the battle situation that quietly changed the overall situation of the world economy, we will find that China and India are still the leaders of the global economy.
Therefore, this global GDP race will also be a process of singing and singing, and each country is looking for a sustainable competitive advantage in this economic race, and in the end, who will have the last laugh is still undecided.
So, what do you think the future of the global economy will look like?