Comparison of India-China economies irrelevant: P Chidambaram

[haidian]

Comparison of India-China economies irrelevant: P Chidambaram
22 JAN, 2013, 05.31PM IST, PTI

HONG KONG: Courting investment from Hong Kong, home for China's top investors, Finance Minister P Chidambaram today rejected any comparison between the economies of India and China, saying it is irrelevant as they faced radically different problems.

"They (China) are facing different problems. They are revenue surplus country. They have got current account surplus. They got huge foreign exchange reserves (USD 3.31 trillion)," Chidambaram said in an interview to PTI.

He was responding to a question about comparisons between the economies of the two countries after addressing an investors' meeting here.

"China is able to invest all over the world in oils, coal and metals. Their problems are of different kind" while India faced different problems, Chidambaram said.

"We face current account deficit. We have to finance the current deficit in foreign currency. We are, therefore, very dependent on foreign inflows, both FDI and FII, and external commercial borrowing," he said.

"I don't think we should be comparing China and India situation. The comparison is not very relevant. We need to acknowledge our problems. We need to show determination to counter our problems. We need to signal that we are determined to stay the course," he said.

About the drop of FDI inflows to China, Chidambaram said "China is no longer dependent on FDI. China is a capital exporting country. China has huge reserves. I don't think China's situation with FDI compares with India situation," he said.

Though FDI levels are coming down in China, it still got over USD 100 billion foreign investment last year.

Asked whether he has any plans to visit China to scout for investment, Chidambaram said "I have no plans to visit China now."

 

[ashok321]

What this stupido CONgressi is gonna say other than what he did?
He is worth 1000 crores in overseas accounts - his son was involved in 400 crore scam in India.
He is a Sonia Maino Chamcha...

Luto India luto baba...
Dont stop baba,,
Till these stupid Indians realize chor CONgressis....

 

[Backbencher]

What this stupido CONgressi is gonna say other than what he did?
He is worth 1000 crores in overseas accounts - his son was involved in 400 crore scam in India.
He is a Sonia Maino Chamcha...

Luto India luto baba...
Dont stop baba,,
Till these stupid Indians realize chor CONgressis....

I understand your frustration but bashing congress isnt the solution .However BJP is no different.......they both are snakes of the same category .

I say lets try Arvind Kejriwal and his team .

 

[śūnya_0_Zero]

India's economy is different from China's economy .... just as India's economy is different from Saudi Arabia's economy.

China problems begin when the results of producing and burning 50% of world's coal become unbearable (to residents of the territories under PRC). However, inspite of current hoolaalaa about pollution, I do believe than china will continue burning more than 50% of the world's coal for many years to come.

There are no mass air suffocation related deaths reported, so far. Hence, coal will continue to be burnt.

The challenges to India are similar to those faced by countries like USA, UK (both of which generate their growth from their domestic markets). Both have a current account deficit but stay even because of capital inflows.

 

[ashok321]

I understand your frustration but bashing congress isnt the solution .However BJP is no different.......they both are snakes of the same category .

I say lets try Arvind Kejriwal and his team .

First read about Sonia and then come back to lock horns with me.

Shocking Truths - Who is Sonia Maino Gandhi?

India's economy is different from China's economy .... just as India's economy is different from Saudi Arabia's economy.

China problems begin when the results of producing and burning 50% of world's coal become unbearable (to residents of the territories under PRC). However, inspite of current hoolaalaa about pollution, I do believe than china will continue burning more than 50% of the world's coal for many years to come.

There are no mass air suffocation related deaths reported, so far. Hence, coal will continue to be burnt.

The challenges to India are similar to those faced by countries like USA, UK (both of which generate their growth from their domestic markets). Both have a current account deficit but stay even because of capital inflows.

Who was responsible for liberating India from British forces?

 

[haidian]

India's economy is different from China's economy .... just as India's economy is different from Saudi Arabia's economy.

China problems begin when the results of producing and burning 50% of world's coal become unbearable (to residents of the territories under PRC). However, inspite of current hoolaalaa about pollution, I do believe than china will continue burning more than 50% of the world's coal for many years to come.

There are no mass air suffocation related deaths reported, so far. Hence, coal will continue to be burnt.

The challenges to India are similar to those faced by countries like USA, UK (both of which generate their growth from their domestic markets). Both have a current account deficit but stay even because of capital inflows.

never expecedt that joke of year post came out so early in the year.lol..

 

[Shardul.....the lion]

Chidu is correct and only good minister in whole congress ministry. He is pressing on reforms continuously.

 

[śūnya_0_Zero]

Chidu is correct and only good minister in whole congress ministry. He is pressing on reforms continuously.

Jairam Ramesh is also fine ... I am beginning to like Ajit Singh, as well (must've surprised many).

In fact, with mamta out, everybody looks a saint, in comparison.

Shinde doesn't look good, so far.

 

[Shardul.....the lion]

Jairam Ramesh is also fine ... I am beginning to like Ajit Singh, as well (must've surprised many).

In fact, with mamta out, everybody looks a saint, in comparison.

Shinde doesn't look good, so far.

Ramesh is fine but he spoiled many big projects due to environmental concerns.

Even Saint antony is also good minister.

 

[śūnya_0_Zero]

Ramesh is fine but he spoiled many big projects due to environmental concerns.

Even Saint antony is also good minister.

Antony was always good ... Btw.. Chidu can also go wrong sometimes: His anti-UIDAI (Aadhaar) stance earlier was quite a put-off.

Inspite of that oddity, chidu is the best.

Nilekani is also so-far doing a pretty okay job.

 

[ashok321]

Ajit Vadakayil: AN OPEN LETTER FROM FRANCOIS GAUTIER TO SONIA GANDHI'S INQUISITOR- CAPT AJIT VADAKAYIL

 

[Gooo]

Duh. It doesn't take a genius to figure this out.

 

[rcrmj]

India's economy is different from China's economy .... just as India's economy is different from Saudi Arabia's economy.

China problems begin when the results of producing and burning 50% of world's coal become unbearable (to residents of the territories under PRC). However, inspite of current hoolaalaa about pollution, I do believe than china will continue burning more than 50% of the world's coal for many years to come.

There are no mass air suffocation related deaths reported, so far. Hence, coal will continue to be burnt.

The challenges to India are similar to those faced by countries like USA, UK (both of which generate their growth from their domestic markets). Both have a current account deficit but stay even because of capital inflows.

lol, more of newbi delusional indian keep coming, India's problem similar to U.S and U.K?

India = factor driven primitive economy
U.S and U.K = innovation driven advanced economy

you are comparing rats with elephent kid

 

[śūnya_0_Zero]

lol, more of newbi delusional indian keep coming, India's problem similar to U.S and U.K?

India = factor driven primitive economy
U.S and U.K = innovation driven advanced economy

you are comparing rats with elephent kid

the coal has gone thru your nostrils and accumulated in your brain.

you need to go for a de-coalification surgery...

meanwhile, don't stress your brain with useless hallucinations.

 

[rcrmj]

the coal has gone thru your nostrils and accumulated in your brain.

you need to go for a de-coalification surgery...

meanwhile, don't stress your brain with useless hallucinations.

any harsh reality seems some sort of 'joke' to delusional indians``

isnt true that your india economy is factor driven primitive stage ?
have a nice reality smash
http://www3.weforum.org/docs/WEF_GCR_Report_2011-12.pdf