We just read Economic Times- ET's story on India vs. China.
(http://economictimes.indiatimes.com/news/economy/indicators/with-5-3-pc-growth-rate-india-losing-out-to-china-on-development/articleshow/18107833.cms)
And here's what Economy Decoded- ED could make of it:
1. China's GDP is twice that of India
2. China grew at 7.7% in 2012, while India at 5.3%
What goes against India in becoming a winner against China:
1. Corruption, extremely poor governance, suffocating political and bureaucratic attitude
2. Outdated policies, laws and ways of functioning
3. Snail speed judicial systemLack of basic amenities like electricity, water, sanitation pan-India
4. Poor public infrastructure be it roads, rails, buildings, metros
5. A lot of Indian youth is unskilled or working as peddlers or not at all
What goes against China:
1. Autocratic regime
2. Corruption
3. Mass manufacturing capability
4. Lesser transparent legal system
So on whom are you placing your bets in this Super Power race? India or China?
(http://economictimes.indiatimes.com/news/economy/indicators/with-5-3-pc-growth-rate-india-losing-out-to-china-on-development/articleshow/18107833.cms)
1. China's GDP is twice that of India
2. China grew at 7.7% in 2012, while India at 5.3%
What goes against India in becoming a winner against China:
1. Corruption, extremely poor governance, suffocating political and bureaucratic attitude
2. Outdated policies, laws and ways of functioning
3. Snail speed judicial systemLack of basic amenities like electricity, water, sanitation pan-India
4. Poor public infrastructure be it roads, rails, buildings, metros
5. A lot of Indian youth is unskilled or working as peddlers or not at all
What goes against China:
1. Autocratic regime
2. Corruption
3. Mass manufacturing capability
4. Lesser transparent legal system
So on whom are you placing your bets in this Super Power race? India or China?
I expected more detailed analysis. For Example- the population control measures adopted by china caused poor youth percentage in china in recent times, which will directly impact their production growth, as they would have lesser number of youths to generate production for the country. On the contrary, India will have a better youth percentage, so more number of hands joining in GDP. So in a short term, like 25-50 years, india's GDP will be better than China's. But in long term, India will face the heat of population, as decreased death rate will convert youth ratio into oldie ratio after 50 years, and they will be on pensions. So , long term china has better prospects, Plus there are many more features and microlevel analysis.
ReplyDeleteSure. We will try to put a much more comprehensive article with the points that you have told us! Thanks for Commenting!
DeleteBoth India and China have have their minus and plus. I think the rate of corruption in India needs to be lowered down as it not only mar our image but also impede our economic growth.
ReplyDeleteTrue. A lot lies in the upper segment of politics and bureaucrats. Thanks for Commenting!!
DeletePersonally I feel as though that China will beat India. India population is continuing to grow, but China's is staying the same. India simply cant support this population
ReplyDeleteSee, India is in the 3rd stage of Population Evolution. That is High Birth Rate and Low Death Rate. It will take minimum 15 years to come in the last stage of population Evolution which currently US and UK face. As soon as India comes closer to it, China's population would have over run it;s limit leading to Higher ICOR also leading to lower Economy Growth Rate. Anyways, thanks for commenting!
DeleteHistorically China always had the edge over India. Remember Marco Polo stayed in China for 20 years and he only passed through India. Additionally the Chinese are much more goal/target oriented or in otherwords they seek results.
ReplyDeleteTrue. You have a point there. Thanks for commenting ! keep rading more articles!!
DeleteWhy are people in India so focused on comparing the country with China? I just spent a year in China and found that Chinese people don't consider India to be a rival.
ReplyDeleteHahahaha! First, because we are not as big as China and there is an inclination of us to be a country like China. Two, it will give an impetus for all Indians to recognize their weaknesses and work upon them. Thanks for commenting though!
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