Path and Goal -Two Diffrent Perspective

[Logic note]

China Could Learn From India’s Slow and Quiet Rise

Two years ago the view that India might have a more competitive economy than China was met with incredulity. Now a comparison of the two countries offers valuable insights for anyone studying economic growth. A fundamental distinction is that China’s growth stems from resource accumulation while India’s is rooted in increasing efficiency. Those who warned that India attracted too little foreign direct investment undervalued its business environment, characterized by entrepreneurship, healthy competition, and minimal political intervention. Another myth is that China’s rise was due to major investment in infrastructure, when economic liberalization and institutional reforms deserve more credit. Indeed, Yasheng Huang of MIT notes that single-minded development of infrastructure has its drawbacks, and China pursued this goal while giving less priority to education. India’s educational system, on the other hand, has steadily improved, especially in rural areas. For these and other reasons, he postulates, India could outperform China over the next 20 years - unless that is, the Chinese learn from their neighbor and rival. – YaleGlobal

 

[Vinod2070]

For now, It is India which can learn a lot more from China than the reverse.

China can hopefully keep us on our toes and prevent our lazy politicians and babus from messing things totally. The people of India will do the rest to claim theor deserved place in the Sun.