▲ 1 r/AskEconomics
Given how China and India had similar income levels of up until the 1970s, would the 13 year time difference between China opening up their economy and India doing the same for theirs translate to a similar lag in income levels today?
While looking at the trajectory of Indian GDP Per Capita (PPP), I noticed that India's level in 2024 was roughly similar to that of of China's back in 2011-12, a 12-13 years gap. This reminds of the 13 year time difference between China opening up their economy in 1978, and India doing so in 1991. China and India had roughly similar income levels even during the 1970s, after which China began pulling away due to Deng's reforms. Is this why the gap in income levels between India and China today correspond to the gap in time in which they opened up their economies?
https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=CN-IN
u/Nandu_alias_Parthu — 4 hours ago