Good article it is, I doubt India will outplay China in my life time. Out-of-control population growth, the religious conflict, the caste system, and the unwillingness of Indian overseas investment back to India, are FOUR major problems to overcome in order to get fast development in India. And these 4 problems are not in China.
As for democracy system, it is NOT a must for fast economic development, at least not in early stage. If China had so-called democracy system, China would not in the place where it is now. So it is only a wishful thinking to conclude India's democracy system will play a crucial rule in the speed of economy development. Not to mention China will adopt its own form of "democarcy". Western media tends to give undeserved credit to democracy system for economic development for whatever reason.
Yes, there are many problems in China too, but they also present in India. And there are some advantages unique in CHina but not in India, which are also crucial.
>>Best line in there was that China wanted multinationals in to avoid creating their on entrprenueal capitalist class....<<
I am not sure about that. I think now there is a China's own Entrepreneur capitalist class forming, if not already formed, in China, and it has been a part of China's policy for the last 20+ years (Deng's word "let some people becoming rich first"). Yes, a lot of them using "foreign capital", most are HK/Taiwan capitals, nothing wrong with it. Although the CCP conference in Sept. might start to switch the emphasis from the minority riches to the majority poor people in countryside, one suggestion is to eliminate the compensation for exporting. |
