‘India has demographic advantage’

Posted: Tuesday, Mar 28, 2006 at 0051 hrs IST
Updated: Tuesday, Mar 28, 2006 at 0051 hrs IST

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Mumbai, March 27,: India is the only country in the world which would not face the demographic problem said, Dr Jacob Frankel, vice chairman, AIG, while addressing the lecture on ‘World Economic System,’ organised by Reserve Bank of India (RBI).

Explaining further he said that the countries like Japan and China would be facing problem of aging population by year 2020.

Inflation rates globally has been benign, if we consider the increase in oil prices in the last two years, it has increased by nearly 40% but the inflation is stable overall. This shows the monetary policies have conveyed that mistakes of the 70’s would not be repeated, he added.

While commenting on the Chinese growth, he said that it has not shown a symmetric pattern. The rural per capital income in China has not increased tremendously as that of urban.

He also mentioned that in year 2005, the Asian countries are enjoying current account surplus of nearly $ 300 billion, while US face a huge deficit of about $ 800 billion. Moreover one of the interesting development seen is the oil exporting countries are enjoying surplus of nearly $300 billion.

Global Outlook

• Countries like Japan and China would be facing problem of aging population by year 2020
• Oil prices in the last two years has increased by nearly 40% but the inflation is stable overall
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