ChatGPT On Viksit Bharat

HERE’S WHAT I ASKED ChatGPT the other day: “Please give me the best estimate for the GDP of the US, China and India in 2050 at their average annual economic growth rates of, respectively, two per cent, three per cent and eight per cent.”

- Minhaz Merchant

This is ChatGPT’s reply: “To estimate the GDP of the US, China and India in 2050 based on different annual growth rates, we can use the compound interest formula: A = P(1+r)n. Where:

A = the future value of investment/asset

P = the present value of investment/asset

r = annual growth rate (as a decimal)

n = number of years

Using this formula:

1 For the US:

• Present GDP in (2022): Approximately $22 trillion.

• Growth rate 2% (0.02)

• Number of years: 2050-2022 = 28 years AUS= 22X (1 + 0.02)28 AUS (almost equal to) 39.79 trillion USD

2 For China:

• Present GDP in (2022): Approximately $17 trillion.

• Growth rate 3% (0.03)