Percentage share of world GDP

80
70
60
50
40
United States
Percentage 30 Japan UK, France and Germany China India

20
10
0

Year

Since 1AD until today the world has changed quite a lot. But until 1700AD
the balance of wealth hadn't. For the past two centuries, the share of the
world's GDP has shifted to the west through imperialism, and
technological innovation. As we can see from the graph above in 1000 AD,
China and India together contributed 50.5% of world GDP. By 1500, that
share had gone down to 49.3%, with China accounting for 24.9% and India
24.4% of world GDP. 200 years later, Chinas GDP had fallen to 22.3% but
Indias went up to 24.5% of world output. By 1820, however, Indias share
had fallen to 16.1% and chinas share increased significantly to 33%. From
the data, it can be concluded that British rule at least in its initial 100
years, didnt make much difference to Indian Economy.

The 19th century appears to be the key juncture when China and India
declined and the West rose. Imperialism appears to be the most obvious
reason given that before China was 'opened' in 1842 in the first Opium
war, it had its greatest share of world wealth. Within a century of these
interventions China went from 33% of the world's GDP to just under 5%.

GDP share of United states has been steadily increasing from 1820AD till
date because of industrial revolution. Before 1820AD US had very less
population. Industrial revolution is the reason behind the growth of Europe
and Japan as well. As China liberalised before India, they are recovering
faster. According to Amartya Sen, India has paid inadequate attention to
the lessons of Asian economic development, which gives a crucial role to
the rapid expansion of human capability as a part of pursuing fast
economic growth. A critical part of that strategy has been the use of
public revenue, itself expanded by economic growth, to remove huge
deficiencies in social, educational and health services, and to meet the
growing demands of social and physical infrastructure, while making
public services more accountable and efficiently organized.