Recently, the global GDP data for the third quarter was released. The growth rate in the United States is 28%, China is 49%, although China's is higher than the United States, but in any case, it is still a relatively normal range.
But there is one country that has sprung up in the third quarter, with an economic growth rate of 76%, so who is that?
That's right, India.
According to data released by India, India's GDP grew at a year-on-year rate of 7 in the third quarter6%, ranking first among the world's top ten economies.
And the size of India's economy has reached 26 trillion, ranking fifth, 31 trillion is not far off.
Many people are asking, this is not like ah, you must know that India is a slum-like country in our impression, why is its economic growth rate so high?Some experts said that there are two main reasons:
First, the demographics of Indian society. Now the whole world is aging, and India is no exception. But people are aging much worse than we are. According to the data, the proportion of India's elderly population in the total population is 64 percent, and ours is 19 percent, a difference of almost three times. The aging of the population has brought about a decline in the desire to consume, and the GDP has also declined. India is still a predominantly young society, and their consumption will be even stronger.
Second, the transfer of the world's factory. As we all know, the world's factory in the past was China, and countless young people went directly to the factory to make screws after graduating from high school. However, with the rise of China, our labor costs are also increasing, so the world's factories are starting to move out of us. And a large part of it has moved to India, because their labor is cheaper than ours, which has also helped India achieve rapid GDP growth.
Third, India has not been suppressed. In the past few years, our country has been suppressed by the United States, and although Europe is not as directly shouted out by the Americans, it is actually secretly suppressing us, so it has not been easy for us in the past few years. India, on the other hand, does not have this problem, taking advantage of the fact that the international community is not so friendly to us, it often falls into the ground, and then it just develops obscenely, which also guarantees its economic growth.
Fourth, there is the issue of statistical methodology. Indians often have exaggerated elements in the GDP statistics, and everyone has seen Indian movies, which I believe is very clear.
Conclusion: Although India's growth rate is high, it does not mean anything. Moreover, as China's international relations break through the encirclement in the past two months, gradually our foreign economic situation will be quickly restored, and our growth rate will gradually become faster.