Guys if we see the size of indias and chinas economy in terms of multiplying the dollar based gdp to their respective currency, what to the numbers tell us? Indias is a 75 trillion Rupees economy and chinas is 35 trillion RMB. So what does it mean at a domestic level?
China's total economic output,aka GDP,passed 40 trillion yuan in 2010.
This year China's GDP is likely to come in the region of 48 trillion yuan. The exact figure will be made public on 17.01.2012.
The Indian rupee has seen dramatic fall of late, whilst the RMB gained some 5% against the dollar in 2011. Measured in the greenback, India's 2011 GDP will be about one fifth China's.
So what's the point in comparing?
Each should follow its own development path to its full potential.