https://www.scmp.com/rss/322007/feed Ashoka Mody, visiting professor of international economic policy at Princeton University, previously worked for the World Bank and the International Monetary Fund. He is the author of India is Broken: A People Betrayed, Independence to Today. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Indian elites are giddy about their country’s economic prospects, and that optimism is mirrored abroad. The International Monetary Fund forecasts that India’s GDP will increase by 6.1 per cent this year and 6.8 per cent next year, making it one of the world’s fastest-growing economies. Other international commentators have offered even more effusive forecasts, declaring the arrival of an Indian decade or even an Indian century. In fact, India is barrelling down a perilous path. All the... https://www.scmp.com/comment/opinion/article/3215379/hype-over-indias-economic-boom-dangerous-myth-masking-real-problems?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3215379/hype-over-indias-economic-boom-dangerous-myth-masking-real-problems?utm_source=rss_feed Thu, 30 Mar 2023 08:45:10 +0000 Last April, the International Monetary Fund projected that the world economy would grow by 3.5 per cent in 2015. In the ensuing months, that forecast was steadily whittled down, reaching 3.1 per cent in October. But the IMF continues to insist – as it has, with almost banal predictability, for the past seven years – that next year will be better. It is almost certainly wrong yet again. For starters, world trade is growing at an anaemic annual rate of 2 per cent, compared to 8 per cent from 2003... https://www.scmp.com/comment/insight-opinion/article/1898344/global-economic-malaise-made-worse-growth-slowdown-china?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1898344/global-economic-malaise-made-worse-growth-slowdown-china?utm_source=rss_feed Wed, 06 Jan 2016 05:51:32 +0000