Hanibal, I agree - India should do much better. Education system is focused more on memorization - not thinking ability. Creativity, innovation, infrastructure, R&D etc - is strength of US.
One thing I have noticed, the young people from India today are really confident. This was not present say 20 years ago. Since I do not live there, I cann kind of detec this difference in attitude. And atitude probably counts for a lot.
I also try not to knock India too hard from abroad - very easy to poke a lot of holes in India's strength story - poverty, corruption, non-level playing field, money to get into engg schools, under the table money for house etc.
Looking beyond these issues, I see progress. But all of your points are valid.
(As for US reference, I am going to put all the blame on Player, who brought US into the picture!!!)
Progress of a country is measured not just by where it stands today, but also by its growth trajectory (past and future). India scores highly in both of those areas. We have grown significantly since independence and are poised to continue this growth.
No one is denying that there are problems, but the growth is despite those problems. And as a few posters have pointed out, steps are being taken (albeit slowly) to eradicated those problems.
P.S. Thanks Southie, for conveniently blaming me when you ran out of arguements ;)
Hanibal, I agree - India should do much better. Education system is focused more on memorization - not thinking ability. Creativity, innovation, infrastructure, R&D etc - is strength of US.
One thing I have noticed, the young people from India today are really confident. This was not present say 20 years ago. Since I do not live there, I cann kind of detec this difference in attitude. And atitude probably counts for a lot.
I also try not to knock India too hard from abroad - very easy to poke a lot of holes in India's strength story - poverty, corruption, non-level playing field, money to get into engg schools, under the table money for house etc.
Looking beyond these issues, I see progress. But all of your points are valid.
(As for US reference, I am going to put all the blame on Player, who brought US into the picture!!!)
i am just trying to make the point, this is story of whole south asia and not anyone country of this region...the region has great potential but the policy maker seems to be too short sighted or highly incompetent who cannot make policies to exploit the potential of the human and natural resources existing here...
anyway, lets hope for the better tomorrow and prepare for worst as from the current leadership of South Asia nothing good is coming out...at least not from last 200 years
One huge difference between South Asian (or even Asian) countries and the west is - the western by and large cooperate/collaborate among themselves. In Asia, my perception is each county tries to compete in an unhealthy manner (rather than cooperate and grow together). That attitude is seen among rank and file folks - Indian is quick to label chinese as robot, pakistani quick to label Indian as selfish, chinese not getting along too well with japanese, Iran not getting along with Iraq.
Till Asians as a whole realize that to earn respect from the world, they need to respect and play nice with each other, I do not see things changing rapidly.
Mind should be used for logical thinking not the heart. See how India has progressed since last 2 decades when we were busy spreading Talibaans. India has already faced several bad phases and I do not see its growth rate can be reversed (Thought in Pakistan we want to see India to bleed 1000 cuts) We should follow Indian example of growth instead of blindly following China or US.
Surely India is growing but to put in the same bracket as US/Western Europe is surely delusional. India never has and never will catch up to those nations in terms of qlty of like for its citizen. The reason is simple numbers. It is IMPOSSIBLE for majority of citizens of a 1 Billion population nation to be have a std of living as lets say US. There just aren't enough natural resources to support that.
There is a good chance that India will continue to grow in the foreseeable future but prosperity will be limited to a select class. Majority of Indians will remain poor and not much will change for them. There is a reason majority of India still wants to move out of that country and the folks are stuck there probably arent there by choice.
China is much bigger than India i don't think India is going to be bigger economy than china. It is like pakistan cannot be bigger power than india in economy same as India cannot surpass china it is just too big and its projects are always 10 times bigger than anything india does.
China is much bigger than India i don't think India is going to be bigger economy than china. It is like pakistan cannot be bigger power than india in economy same as India cannot surpass china it is just too big and its projects are always 10 times bigger than anything india does.
How the Asian superpowers compare on various measures of development
IN THE recent Singapore Grand Prix, a car belonging to the Force India team reached the finish line just 111 seconds after the leader. Today’s chart uses a stopwatch to compare India’s progress in development against another pace-setter, China. The chart shows the number of years that have elapsed since China passed the development milestones that India has now reached. India’s income per head, for example, was about $3,200 in 2009 (holding purchasing power constant across time and between countries). China reached that level of development nine years ago. The lag in social progress is much longer. A child’s odds of surviving past their fifth birthday are as bad in India today as they were in China in the 1970s. Moreover, the chart does not necessarily imply that India in nine years’ time will be as rich as China is today. That is because China grew faster in the last nine years than India is likely to grow over the next nine. We stopped the clock at $3200 per head. But China did not stop racing ahead.
Sorry lost the site URL, was surfing and came across the graph and though it is interesting for this thread, This thread should be “Can China overtake US”.. However there are many graphs, projections, predection that all point to one thing.. Decline of America and Rise of China…
He has explored both of these economic goliaths through and through, and has an interesting take on their very different economic paths:
China’s state-dominated economy is quick to answer global market demands building the necessary infrastructure and providing an endless supply of skilled workers. However, its tight grip on the business sector has led to controversies about its labor and environmental practices among other issues.
India, on the other hand, has been a democracy all along with a thriving private sector. But its lagging government has been chaotic and slow to address its lack of proper infrastructure.
Watch below our interview with Yardley, who just published a new book ‘Brave Dragons’](Amazon.com) about the rise of basketball in China.
He explains how the two states got to where they are economically and what lies ahead. Yardley also talks about Apple’s controversial gadget-producer Foxconn, and why India will not be a leader in electronics manufacturing any time soon.
India will outpace China to become the world's largest economy by 2050, boasting a GDP of $86 trillion, forecasts a report by global property firm Knight Frank & Citi Private Bank. Leading the elephant's charge will be Mumbai and New Delhi, which will feature in the list of top 20 cities globally within the next 10 years.
Going only by GDP growth, the wealth report says Mumbai and New Delhi will rank among the top 20 global cities in the next decade. While Mumbai is ranked 16th, New Delhi is ranked 20th in the list of cities surveyed in terms of economic activity, political power, quality of life, and knowledge and influence.
The report also named Surat and Nagpur among the fast-growing cities to watch out for by 2050.
The following story appears in the June 25, 2012 Investment Guide issue of Forbes magazine.
India and China. Western investors love to compare the world’s most populous nations as if they were identical economies at different points on the same timeline. After all, both are growth powerhouses. Over the decade ended in 2010, China’s GDP grew on average 10.3% per year versus an impressive 7.4% for India.
But investors should stop thinking about India as China 2.0. There are good reasons to be bullish on India, precisely because it is different from China.
While China is all about exports, India is an economy that thrives on domestic consumption. With fears of European contagion and anemic worldwide growth affecting exporters like China and Brazil, fund managers have been looking more seriously at India.
There are now two dozen
There are now two dozen Indian equity mutual funds and ETFs available to capitalize on the country’s long-term growth. After a dismal 2011 Indian equity mutual funds have gotten off to a strong start this year.
The threat of an economic slowdown in India may give investors pause, but on a company level fund managers continue to see long-term opportunity.
“The biggest collection of consumer-facing companies that can benefit from structural growth is found in India,” says Sammy Simnegar, manager of Fidelity’s International Capital Appreciation Fund. “The government doesn’t have major shareholdings in the vast majority of listed companies. In China it’s the exact opposite.”
The big story in India continues to be its demographics. It will overtake China as the largest population in the world by 2030 and has one of the youngest populations among emerging-market nations. Nearly half its citizens are under 25.
“Most developed markets are in decline, especially Japan. China and others are past their peak,” says Prashant Khemka, managing director and chief investment officer at Goldman Sachs Asset Management India.
Given its burgeoning population of working-age people, India’s biggest opportunity is also its biggest threat. Will its economy be able to provide enough jobs?
