China took back in the crown in 2016 thanks ‘primarily’ to Modi’s cash cancellation
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The International Monetary Fund estimates that India lost the mantle of fastest-growing large economy last year. Estimated output growth in 2016, percentage change from a year earlier.
China 6.7
India* 6.6
Asean-5 4.8
Mexico 2.2
U.K. 2
Eurozone 1.7
U.S. 1.6
Japan 0.9
South Africa 0.3
Russia -0.6
Nigeria -1.5
Brazil -3.5
*India estimate is for the year that ends March 31, 2017. The Asean-5 countries are Indonesia, Malaysia, Philippines, Thailand and Vietnam.
Source: China Overtakes India as World’s Fastest-Growing Economy, IMF Says – China Real Time Report – WSJ
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