"[[India]], with its messy electoral and multiethnic politics, **has not been able to replicate [[China]]’s post-1990 rise driven by the unchallenged rule of a single party**, but the record of its per capita GDP growth during the first two decades of the 21st century indicates a clear departure from the previous decades of poor performance. "Between 1970 and 1990, the country’s per capita GDP (in constant monies) had actually declined in six separate years and stayed below 4 percent for four years, while between 2000 and 2019 there was an annual growth above 4 percent for 18 of those years. **Moreover, since 2008 the country’s annual growth of merchandise exports has been, at 5.3 percent, only slightly behind [[China]]’s 5.7 percent, and the impact of India’s software engineers in [[Silicon Valley]]** (where they have been the single most important contingent of skilled immigrants in the industry) **has been far above Chinese contributions**." ([Location 2451](https://readwise.io/to_kindle?action=open&asin=B08SGC3TD3&location=2451)) --- **Tags** -- [[quotes]], [[demographics]], [[globalisation]], [[economics]], **Source** -- [[202412030828 - B - How the World Really Works]]