India
Source:Dreamstime.com
A democracy with Many Religion, Language, Culture, Food, Identity, Beliefs, Casts, People and History. It's unbelievable that India is existing as a country. Many westerners will never be able to understand this kind of setup where everyone is trying to move ahead but not at the cost of others. India is so complex that if we keep overall world's complexity on one side and alone India on another side chances are that India may overpower it.
Source: Jhon burton.com
China
A communist country rapidly changing its Ideologies as per new era and after getting experience from other Communist nations. It has Tough leaders, pushed growth deeper inside its citizens in the last 2-3 decades.
Ambitious and progressive but not whole. It's a mysterious setup sustainable till now but can't be said about it in future. Has long history like India and was among the wealthiest nation till the 17th century. Reclaiming it again in 21 century.
Current situation
At present China is way ahead of India reason being the growth story of China started 10 years ahead of India and their governments highly focused effort has moved this nation on a fast pace.Also, the effect of compounding has helped it a lot as China has grown with 7-9% in the past decade. Currently, China is the biggest economy surpassing the USA in the year 2014. But in terms of GDP China will be Toppling USA somewhere around 2029. Exactly at the same time when India will be toppling Germany to claim the world third-biggest economy title.
India is moving ahead in the game now as it has started posting higher economic growth rate than China.7.5 against 6.5 of China. If India maintains this difference the effect of compounding will play its role and of course in next 50 years thing will be entirely different.
Past
In historical past India and China has always remained dominant nations in terms of economies. More than 70% of global trade has always remained under their control only till the 17th century when they fall apart by European colonization.
Future
Take any analysis all will point towards one thing that 21century will belong to Asia only.
Japan has already proven it now its China and India who are about to do the same.
By the year 2050, there will be a total shift in the world economy and power and obviously current powers will not lose their significance but will not remain in dominant position and they are already preparing for such situations.
Source:The gurdian