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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: arun gera who wrote (26058)	3/21/2005 1:35:34 AM
From: Amy J	Read Replies (3) \| Respond to of 116555

Arun, RE: "Any reliable stats? " Ciafactbook. China's per capita = 2X India's. Both countries started out at the same position in the 70s, but China is two times ahead of India on a per capita basis. Sad but true. It's the cost of democracy - very inefficient. RE: India is diverse. Is China diverse? Yes, China is very diverse with different dialects. You may not think so because "they all look alike" (just like the average American doesn't think India is diverse, which it is). Only a few Americans can distinguish a Northern Indian from a Southern Indian by looks, but most cannot. Likewise, most people cannot distinguish between various Chinese. People tend to (wrongly) judge diversity based upon appearances, rather than dialect and beliefs. RE: "India seems to have made the fastest progress when its central government has gotten weaker" Less misallocation of capital due to less corruption ? Because China has such a powerful central government they do not have the infrastructure problems that India has - this is why companies are moving more factories to China more than India. It's the beauty of an efficient, strong central government - even in the face of diversity. Dictatorship allows you to move forward in a unified way, even if you have a lot of conflicting diversity, meanwhile democracy slows the process down - you have to wait until "everyone is on board" before you move ahead. Thus, democracy moves too slowly, below a certain capita. But once the infrastructure is in place, things can move faster. After which point, democracy is much more efficient. I hope India's Congress Party will improve the infrastructure - India's central government has some of the brightest leaders in the world. I believe they are brighter than many of ours. It takes tremendous brightness to tackle some of India's current problems - I think the current central govt leaders are probably the best in the entire world (e.g. excellent financial capabilities, etc.). Regards, Amy J