boris
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I'm not worried about India overtaking China as long as Indians still talk about leapfrogging manufacturing into a service economy.
Manufacturing is a necessary step on the road to development for any reasonably sized country, with exceptions of those with very rich natural resources. How else are you going to provide employment to your average citizen?
And don't ever think education will help India leapfrogging China. China has more Top 200 universities than rest of the BRIC combined (which is actually not hard as according to THE's 2010 ranking BRI has not a single university in Top 200). China also spends almost double the amount of money on R&D each year than rest of the BRICs combined.
the education sector is no doubt ,chinese are having an enormous amount of research done by both students and professional's.chinese students at middle school stage are encouraged to follow their passion,be it sport,music,art,pure science,engineering also i have seen chinese and south korean students are extremely hard working.
with india the difference is we are not a research oriented system but a WPM or rather who pays more system,in engineering for example 95% want to do an MBA and get a high paying job,research is scoffed upon both by students and parents hence a few end up doing research that too in the states.
as far as universities are concerned in BRIC nations i rate :
china > russia > india > brazil