Resurgence of China and India: A "Profound Transformation"
This note highlights two features: first, though the ratio of GNI per capita of the BRICS have started to inch upwards, they still are at a very low stage—the ratio of GNI per capita of India was in 2010 even less than half of what it was in 1938! Whatever else overtaking the United States may mean, this does not suggest that China or India are going to set standards of wealth that other states will seek to attain. Second, though the southern Eurozone periphery has been mired in crisis, these states still registered a far better performance than the BRICS between 2000 and 2010. This must of course be qualified by noting that the population of the southern Eurozone periphery is miniscule compared especially to those of China and India.
© 2012 CIDOB Foundation
Ravi Arvind Palat