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India's economy overtakes UK
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By *asyuk OP Man
over a year ago
West London |
This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/ |
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By *asyuk OP Man
over a year ago
West London |
"It's all just numbers, ask the man on the streets of India and see what he says "
Well yes, it is all about numbers, but it indicates the direction of travel of an economy.
Massive redistribution needed, but that came in industrial revolution Britain too. |
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By (user no longer on site)
over a year ago
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"It's all just numbers, ask the man on the streets of India and see what he says
Well yes, it is all about numbers, but it indicates the direction of travel of an economy.
Massive redistribution needed, but that came in industrial revolution Britain too."
.
Not politically it didn't, it came from strike action when labour had an advantage in a fixed economy, the average Joe in India has got fuck all chance of redistributing anything, in fact all there actually doing is putting up their environment for sale.... Come to India you can do what you like! |
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By *asyuk OP Man
over a year ago
West London |
Labour organisation is politics. Why can't the Indians organise?
They are, in fact, likely to exceed their Paris climate targets.
The population is very large, the ruling class is very small. As in China. This ends badly if they are upset. It did for the British. The difference with China is that India is a reasonably well functioning democracy so can, and have, binned their leaders.
The danger is that they will follow the lead of Brexit, Trump and China and Russia in finding an external source for all their problems... |
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By (user no longer on site)
over a year ago
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"Labour organisation is politics. Why can't the Indians organise?
They are, in fact, likely to exceed their Paris climate targets.
The population is very large, the ruling class is very small. As in China. This ends badly if they are upset. It did for the British. The difference with China is that India is a reasonably well functioning democracy so can, and have, binned their leaders.
The danger is that they will follow the lead of Brexit, Trump and China and Russia in finding an external source for all their problems..."
.
In a global world labour holds no cards while business holds all the aces, sure they could increase taxs on the wealthy Indians but that won't stop then from moving to Indonesia and operating from there!.
The reason for trump and brexit are the problems were talking about!.
Politicans hands are relatively tied in a global world, that was the original point of the EU, to counter if you like the effects of it, make your market powerful enough and you can dominate the proceedings.... It couldn't stop the move to China and India though and once that's over they'll move on to the next cheap place.... China actually has the biggest advantage by being communist, they have the ultimate power to control, unfortunately what comes with that power is usually bad stuff as well |
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By *asyuk OP Man
over a year ago
West London |
That's a council of despair.
How did the UK change then? I believe this happened at the height of Empire when the UK was ultra globalised with access to vast reserves of very cheap foreign labour.
However, my question was about why this information seems to have completely escaped the British press  |
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By (user no longer on site)
over a year ago
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I've said before that I am no economist, but as you've mentioned GDP, in terms of populace they are surely nowhete near the UK in deal terms in regards their economy?
I am not sure how relevant this is in the whole Brexit discussion?
More than happy for someone to tell me how this is relevant. Given they have a population of 1.3 billion and the UK has a population 1/20th of that. |
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By (user no longer on site)
over a year ago
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"That's a council of despair.
How did the UK change then? I believe this happened at the height of Empire when the UK was ultra globalised with access to vast reserves of very cheap foreign labour.
However, my question was about why this information seems to have completely escaped the British press "
.
I don't think the people of the UK ever really made in roads on the labour market until the 1920s, the empire was long past its height by then. True the UK had great footings from it, but then it also had great costs from it as well, the wealth primarily went to the wealthy not the average shmuck.
Empires are exponential in terms of energy, like a big fire the bigger it gets the more energy it consumes, the more energy it consumes the bigger it gets, effectually like all empires they blow themselves out.
The main western labour gain came after ww2 with the policy of full employment, full employment! Think about that, it had never been achieved before, once that policy was enacted, labour just gamed it through strikes and the ability to pick and choose jobs.
With 1.3 billon Indians I find it unlikely that they will ever see the same in roads into wealth disparity that the west did.
That's not what I wish but that's how I see it, sure you'll get plenty of billionaires in India and even a large wealthy top section but the poor will always remain poor
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By (user no longer on site)
over a year ago
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I can't really give you a reason why the British press have bypassed the news, maybe it's not on the average persons radar, maybe they've got bigger fish to fry |
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"This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/"
So Britain can stop sending foreign aid to India now then. |
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By (user no longer on site)
over a year ago
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"This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/
So Britain can stop sending foreign aid to India now then. "
Exactly ! But I bet we don't ! |
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By (user no longer on site)
over a year ago
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"Hahaha..
I don't think that is gonna happen any time soon..lol
But i think every thing is governed by the karmic cycle ..  "
Neither do I lol but why not ?
We can't afford to put a rocket in space ! |
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By *asyuk OP Man
over a year ago
West London |
So Britain can stop sending foreign aid to India now then.
Perhaps you missed the part about GDP per head?
Space programmes require a raft of high technology that moves the economy along and provides better paid jobs and higher standards of living. You know, the thing we keep saying we want... |
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"Hahaha..
I don't think that is gonna happen any time soon..lol
But i think every thing is governed by the karmic cycle .. "
You believe in Karma. Well the USA has been messing around in other countries democratic processes for donkeys years and imposing regime change, now they 'claim' Russia has interfered in theirs. Is that Karma?  |
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"
Space programmes require a raft of high technology that moves the economy along and provides better paid jobs and higher standards of living. You know, the thing we keep saying we want..."
However $600 million statues of former rulers do not require or produce such things. |
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By *aucy3Couple
over a year ago
glasgow |
"This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/"
Complete Bullshit,just another example of blaming Brexit on all of our woes.
Where as,in the real world,we already knew that was happening.
So Give us a real Brexit effect,
or shut the fuck up,
stop whinging like spoilt children,
And accept the democratic choice.
|
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By *andS66Couple
over a year ago
Derby |
"This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/"
Maybe now we'll stop giving them foreign aid. |
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By *asyuk OP Man
over a year ago
West London |
"However $600 million statues of former rulers do not require or produce such things."
Who on this thread said a statue was a good idea?
Politicians everywhere are capable of stupid, wasteful, vainglorious acts. This particular one is to stoke nationalistic and sectarian emotions for domestic politics. |
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By *asyuk OP Man
over a year ago
West London |
"Complete Bullshit,just another example of blaming Brexit on all of our woes.
Where as,in the real world,we already knew that was happening.
So Give us a real Brexit effect,
or shut the fuck up,
stop whinging like spoilt children,
And accept the democratic choice.
"
Perhaps you are just reading what you want to read here Brexit seems to be missing the point.
India has been growing it's own economy in absolute terms but this is not yet feeding through to the wider population.
It has overtaken the UK far earlier than it would have done due to the devaluation of the currency due to Brexit. That's just an objective fact.
The UK has ignored this particular statistic which is just quite interesting as it implies to me that the entire press remains patriotic in one way or another. |
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By *aucy3Couple
over a year ago
glasgow |
"Complete Bullshit,just another example of blaming Brexit on all of our woes.
Where as,in the real world,we already knew that was happening.
So Give us a real Brexit effect,
or shut the fuck up,
stop whinging like spoilt children,
And accept the democratic choice.
Perhaps you are just reading what you want to read here Brexit seems to be missing the point.
India has been growing it's own economy in absolute terms but this is not yet feeding through to the wider population.
It has overtaken the UK far earlier than it would have done due to the devaluation of the currency due to Brexit. That's just an objective fact.
The UK has ignored this particular statistic which is just quite interesting as it implies to me that the entire press remains patriotic in one way or another."
India could overtake Britain,and become the world's 5th largest economy within a decade.
BBC news January 2007.
That's several years before anyone had even heard of Brexit.
So it's hardly new news,
In fact,isn't it true,India has overtaken many countries in the world economically,
Including many within the EU.
So to site Brexit as the reason it overtook Britain,
Is totally without foundation,
and dishonest in the extreme. |
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By *mmabluTV/TS
over a year ago
upton wirral |
"This was always coming, but Brexit has hastened the process purely in terms of currency devaluation. Of course, in terms of GDP per head India has an incredibly long way to go.
What's more interesting is how this has been completely ignored in the UK press. It is still news...
https://www.google.co.uk/amp/www.forbes.com/sites/realspin/2016/12/16/indias-economy-surpasses-that-of-great-britain/"
Brexit has nothing to do with it but giving them loads of foreighn aid does help them more fool us |
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By *mmabluTV/TS
over a year ago
upton wirral |
"Complete Bullshit,just another example of blaming Brexit on all of our woes.
Where as,in the real world,we already knew that was happening.
So Give us a real Brexit effect,
or shut the fuck up,
stop whinging like spoilt children,
And accept the democratic choice.
Perhaps you are just reading what you want to read here Brexit seems to be missing the point.
India has been growing it's own economy in absolute terms but this is not yet feeding through to the wider population.
It has overtaken the UK far earlier than it would have done due to the devaluation of the currency due to Brexit. That's just an objective fact.
The UK has ignored this particular statistic which is just quite interesting as it implies to me that the entire press remains patriotic in one way or another.
India could overtake Britain,and become the world's 5th largest economy within a decade.
BBC news January 2007.
That's several years before anyone had even heard of Brexit.
So it's hardly new news,
In fact,isn't it true,India has overtaken many countries in the world economically,
Including many within the EU.
So to site Brexit as the reason it overtook Britain,
Is totally without foundation,
and dishonest in the extreme. "
 |
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Economists are often wary of comparing the relative size of economies using volatile market exchange rates, generally preferring to use a Purchasing Power Parity measure, which adjusts for differences in local purchasing power.
Even so, India's economy has been expected to surpass the UK in size for quite some time.
It had been predicted to overtake the UK GDP by 2020, but the forecast was revised forward to happening within the next few months earlier in December, prompted by the pound losing a fifth of its value in one year.
And the gap between the nation’s wealth is set to grow. India’s economic growth has rocketed over the last quarter century, growing between 6 and 8 per cent each year, compared to the UK’s growth of one or two per cent.
'India’s GDP per capita is still one fifth – or 20 per cent – of that in the UK, meaning that per person, Indians are still far poorer.
An estimated one in five Indians is considered poor, according to the World Bank, with 80 per cent of those living in rural areas, where many are not able to access proper sanitation.'
So it is largely down to the reduction in the value of the pound, which is down to Brexit.
Not dishonest 'in the extreme' then, but in fact very honest. How inconvenient. |
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By *asyuk OP Man
over a year ago
West London |
"Economists are often wary of comparing the relative size of economies using volatile market exchange rates, generally preferring to use a Purchasing Power Parity measure, which adjusts for differences in local purchasing power.
Even so, India's economy has been expected to surpass the UK in size for quite some time.
It had been predicted to overtake the UK GDP by 2020, but the forecast was revised forward to happening within the next few months earlier in December, prompted by the pound losing a fifth of its value in one year.
And the gap between the nation’s wealth is set to grow. India’s economic growth has rocketed over the last quarter century, growing between 6 and 8 per cent each year, compared to the UK’s growth of one or two per cent.
'India’s GDP per capita is still one fifth – or 20 per cent – of that in the UK, meaning that per person, Indians are still far poorer.
An estimated one in five Indians is considered poor, according to the World Bank, with 80 per cent of those living in rural areas, where many are not able to access proper sanitation.'
So it is largely down to the reduction in the value of the pound, which is down to Brexit.
Not dishonest 'in the extreme' then, but in fact very honest. How inconvenient."
Thank you  |
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By *aucy3Couple
over a year ago
glasgow |
"Economists are often wary of comparing the relative size of economies using volatile market exchange rates, generally preferring to use a Purchasing Power Parity measure, which adjusts for differences in local purchasing power.
Even so, India's economy has been expected to surpass the UK in size for quite some time.
It had been predicted to overtake the UK GDP by 2020, but the forecast was revised forward to happening within the next few months earlier in December, prompted by the pound losing a fifth of its value in one year.
And the gap between the nation’s wealth is set to grow. India’s economic growth has rocketed over the last quarter century, growing between 6 and 8 per cent each year, compared to the UK’s growth of one or two per cent.
'India’s GDP per capita is still one fifth – or 20 per cent – of that in the UK, meaning that per person, Indians are still far poorer.
An estimated one in five Indians is considered poor, according to the World Bank, with 80 per cent of those living in rural areas, where many are not able to access proper sanitation.'
So it is largely down to the reduction in the value of the pound, which is down to Brexit.
Not dishonest 'in the extreme' then, but in fact very honest. How inconvenient.
Thank you "
After all that,if it's due to the reduction in the value of the pound,which is down to Brexit.
Then Why has India also overtaken almost every other economy within the EU,including France,how inconvenient.
So to cite Brexit as the reason,is most definitely dishonest in the extreme,and more than a little desperate.
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By *asyuk OP Man
over a year ago
West London |
"
After all that,if it's due to the reduction in the value of the pound,which is down to Brexit.
Then Why has India also overtaken almost every other economy within the EU,including France,how inconvenient.
So to cite Brexit as the reason,is most definitely dishonest in the extreme,and more than a little desperate.
"
I'm not particularly interested in the reason for India overtaking the UK, more that it was not widely reported in the UK but was elsewhere, so any thoughts on my actual question.
Brexit did devalue the currency. That's pretty much the only thing that is agreed with by everyone. Consequently India became wealthier relative to the UK.
The UK is already behind France also as a consequence of currency devaluation. That's old news:
https://www.google.co.uk/amp/s/amp.ft.com/content/7508bf1e-8a46-11e6-8cb7-e7ada1d123b1
If I'm missing something then I'm happy to be corrected  |
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By *aucy3Couple
over a year ago
glasgow |
"
After all that,if it's due to the reduction in the value of the pound,which is down to Brexit.
Then Why has India also overtaken almost every other economy within the EU,including France,how inconvenient.
So to cite Brexit as the reason,is most definitely dishonest in the extreme,and more than a little desperate.
I'm not particularly interested in the reason for India overtaking the UK, more that it was not widely reported in the UK but was elsewhere, so any thoughts on my actual question.
Brexit did devalue the currency. That's pretty much the only thing that is agreed with by everyone. Consequently India became wealthier relative to the UK.
The UK is already behind France also as a consequence of currency devaluation. That's old news:
https://www.google.co.uk/amp/s/amp.ft.com/content/7508bf1e-8a46-11e6-8cb7-e7ada1d123b1
If I'm missing something then I'm happy to be corrected "
Having perused the actual data,(facts do you remember them)
I've found the reason India overtakes the UK,wasn't widely reported in the UK.
They're probably going to wait until it actually happens.
Economically India has not overtaken the UK,
Economically France has not overtaken the UK.
So in the real world,brexit has had absolutely no effect on the UKs economic position.
I know how much these facts must disappoint the Remainers.
once more,it looks like the
Remainers have ignored the facts,and distorted the figures,to suit their anti Brexit agenda.
Though let's be honest,it's all they've got.
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By (user no longer on site)
over a year ago
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India is a joke. It is corrupt and has millions of poor living a day to day existence. The roads and infrastructure are still third world and until this is addressed, they can boast their economy is this and that but its a horrible place to live. This is from a child of Indian parents. I have been there and no intention of going back. Its horrible. The Indians keep each other down and do it with pride. They boast they help the poor but beat them down and then go to the Temple dripping in Gold. Pathetic weak minded people who historically stab each other in the back. |
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By *asyuk OP Man
over a year ago
West London |
"They're probably going to wait until it actually happens.
Economically India has not overtaken the UK,
Economically France has not overtaken the UK.
So in the real world,brexit has had absolutely no effect on the UKs economic position.
I know how much these facts must disappoint the Remainers.
once more,it looks like the
Remainers have ignored the facts,and distorted the figures,to suit their anti Brexit agenda.
Though let's be honest,it's all they've got.
"
You're an angry chap aren't you?
What would have been a good point would have been to say that the data I'm quoting is a prediction of the 2016 rankings using the latest exchange rates. The official World Bank rankings are retrospective and have not been released.
You could also add that the PPP ( Purchasing Power Parity) measure is probably appropriate a figure to use because it better indicates standard of living.
However, financial predictions are widely quoted in the press so I wonder why they haven't in this case.
That would have added something constructive to the discussion. |
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By (user no longer on site)
over a year ago
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Not really, because stats don't mean anything. Seeing poverty does. GDP, EXPORT BLAH BLAH BLAH. Feed the blind beggar and his family and build a damn road. Thats what its all about. |
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By *asyuk OP Man
over a year ago
West London |
I'd say that moving from a subsistence economy to one which is capable of a space programme is probably progress.
Tax receipts are low, so the government itself has a far smaller budget to spread over a far bigger country.
You can't blame India if it's excited about overtaking its former colonial rulers in some positive international measure even if it is broadly meaningless to the wider population. It does at least indicate a positive direction of travel.
I don't think that this inevitable or easy to achieve as a consequence of having a large population. I imagine that it's quite a difficult and unenviable task working out if investing in technology will bring greater wealth and prosperity in the long term at the cost of the well being of the poor today.
The UK wasn't much different during the industrial revolution. No infrastructure, corrupt and full of the exploited poor... |
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By *aucy3Couple
over a year ago
glasgow |
"They're probably going to wait until it actually happens.
Economically India has not overtaken the UK,
Economically France has not overtaken the UK.
So in the real world,brexit has had absolutely no effect on the UKs economic position.
I know how much these facts must disappoint the Remainers.
once more,it looks like the
Remainers have ignored the facts,and distorted the figures,to suit their anti Brexit agenda.
Though let's be honest,it's all they've got.
You're an angry chap aren't you?
What would have been a good point would have been to say that the data I'm quoting is a prediction of the 2016 rankings using the latest exchange rates. The official World Bank rankings are retrospective and have not been released.
You could also add that the PPP ( Purchasing Power Parity) measure is probably appropriate a figure to use because it better indicates standard of living.
However, financial predictions are widely quoted in the press so I wonder why they haven't in this case.
That would have added something constructive to the discussion."
Haha
You could have just thanked me,for giving such a succinct and honest answer.
Rather than make such a feeble,and obvious attempt to divert attention,from the misleading and dishonest assertions made in your original question,then again in many of your subsequent posts.
.
Wishing you a Happy new year  |
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By *asyuk OP Man
over a year ago
West London |
"Haha
You could have just thanked me,for giving such a succinct and honest answer.
Rather than make such a feeble,and obvious attempt to divert attention,from the misleading and dishonest assertions made in your original question,then again in many of your subsequent posts.
.
Wishing you a Happy new year "
I'm sure that you are well aware that all economic data are approximations. These national statistics are, however, based on agreed calculations which mean that the same maths can be done now by someone other than the World Bank.
The World Bank releases their figures retrospectively so when they report something it has already happened several months in the past.
I never claimed that this was a landmark event, nor that Brexit was anything but a footnote, nor that it made a huge difference to the everyday lives of the majority of British or Indian people.
You have read and written with a great deal of hostility and I can't see what new information you have introduced. Anyone can say that black is white but it doesn't help explain anything. You could quote your sources. That might help educate us. |
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By *aucy3Couple
over a year ago
glasgow |
"Haha
You could have just thanked me,for giving such a succinct and honest answer.
Rather than make such a feeble,and obvious attempt to divert attention,from the misleading and dishonest assertions made in your original question,then again in many of your subsequent posts.
.
Wishing you a Happy new year
I'm sure that you are well aware that all economic data are approximations. These national statistics are, however, based on agreed calculations which mean that the same maths can be done now by someone other than the World Bank.
The World Bank releases their figures retrospectively so when they report something it has already happened several months in the past.
I never claimed that this was a landmark event, nor that Brexit was anything but a footnote, nor that it made a huge difference to the everyday lives of the majority of British or Indian people.
You have read and written with a great deal of hostility and I can't see what new information you have introduced. Anyone can say that black is white but it doesn't help explain anything. You could quote your sources. That might help educate us."
You seem to be confusing,my proving many of your posts and assertion,are misleading and dishonest,with hostility.
Please be assured,redressing the balance with honesty is my only aim.
As I have already explained,the reason India overtaking the UK in the economic rankings,was not widely reported,in the UK,
is due to the fact,it didn't actually happen.
.
New information I have provided
you claimed India had overtaken the UK in the economic rankings.i have shown this to be untrue.
.
You also claimed France had overtaken the UK in the economic rankings.i have also shown this to be untrue.
.
In fact,it would be true to say,
none of your claims have had any basis in fact at all.
All of this information comes from the world Bank economic rankings.
Hoping you found this educational. |
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By *asyuk OP Man
over a year ago
West London |
"
You seem to be confusing,my proving many of your posts and assertion,are misleading and dishonest,with hostility.
Please be assured,redressing the balance with honesty is my only aim.
As I have already explained,the reason India overtaking the UK in the economic rankings,was not widely reported,in the UK,
is due to the fact,it didn't actually happen.
.
New information I have provided
you claimed India had overtaken the UK in the economic rankings.i have shown this to be untrue.
.
You also claimed France had overtaken the UK in the economic rankings.i have also shown this to be untrue.
.
In fact,it would be true to say,
none of your claims have had any basis in fact at all.
All of this information comes from the world Bank economic rankings.
Hoping you found this educational."
You haven't actually "shown" anything. You've just made assertions. That is not the same thing.
If you feel that you have achieved something, then jolly good. |
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