China's Century — or India's?

[aakash_2410]

I wanna say a century of Asia?

 

[livingdead]

No one is going to "own" a century, who "owned" the 20th Century? Don't say US- remember at the start of the 20th the US economy was on its knees and for the middle Nazi Germany was a major Powerhouse. But what I would say regarding China VS India:

My job has taken me to both China and India- Dehli, Mumbai, Amritsar,Chandigarh/Beijing,Shanghai,,Hong Kong

And my comments are China is all style with no substance. It appears the GOVT is spending too much money trying to show off their success and show to the world that their system works- there is a shuttle train from the airport to the city in Shanghai that travels 300kph/hour, it is entirely pointless as the journey only takes about 7 mins but it ks a clear statement to all those entering China. It's a sham- I saw lots lf nice buildings out of my hotel window but then I couldn't check my emails or access my company's site from my laptop using the WIFI as they were all censored. Whilst there were some genuinely nice people in China most were insular and indifferent to my/any foreigner's presence and I was very wary lf the police and felt very uncomfortable whilst lutside of the hotel.


In india there isn't the glitz and the glam but the "bottom-up" approach is reaping tangible benefits and actually benefiting the Indian people. And the people themselves lived up to their stereotype- truly friendly and warm and willing to help/assist and joke.


I'd rather be a poor man in India and ve truly free than a rich man in China who always has to look over his shoulder.

I would want the opposite. I would rather be rich and give away some freedom than die poor.

 

[IND151]

Hong Kong achieved what it did with 7 million Chinese people.

Mainland China has 1.3 billion Chinese people.

Now you can see how much potential that China has. There is nothing to stop China from reaching and surpassing the GDP per capita of Hong Kong, given enough time. The people are essentially the same.

nobody is saying that china is weak.

such articles should be taken with handful of salt.

however its true that demographic advantage will be beneficial for India.

Indian growth will be based on foreign demand and increasing demand from very big domestic market.

so even if India cant have bigger economy than china it will surely have 2.5 to 3 trillion dollar economy in coming years.

India is like a medium size star which burns its fuel carefully over a very long course of time

 

[Heinz89]

nobody is saying that china is weak.

such articles should be taken with handful of salt.

however its true that demographic advantage will be beneficial for India.

Indian growth will be based on foreign demand and increasing demand from very big domestic market.

so even if India cant have bigger economy than china it will surely have 2.5 to 3 trillion dollar economy in coming years.

India is like a medium size star which burns its fuel carefully over a very long course of time

Medium size star who wanna be a supersize one... India can go long way if they win their neighbors hearts rather focus on racism

 

[nomi007]

chinaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

 

[beijingwalker]

the recent figures show that instead of catching up,India's economy is further left behind comparing to China,and the gap is getting bigger every passing day just like what has happened in the last 3 decades.truth always hurts and facts always dash idoits dreams.

India Loses More Ground on China
October 20, 2011, 9:00 AM IST

There were only a few people to begin with who really thought India’s economic growth rate would outpace China’s – at least anytime soon.

Now, those voices are likely to be fewer and weaker.

As China’s economic growth hovers close to double digits, India is having to admit its 9% Gross Domestic Product expansion goal for the year ending March 31 is now pretty unrealistic.

“Let me not hide the fact that I have been disappointed by our growth performance over the last few months. It is evident that India’s growth rate in 2011-12 will be less than what we were expecting in February when I presented the Budget,” Finance Minister Pranab Mukherjee said in a speech during a media event on Wednesday.

In February, the finance minister said India’s economy was on track to expand 9% in the year through March 2012. On Wednesday, he hinted that 8% – or less –was more like it. That’s what “most observers” are expecting, Mr. Mukherjee said. He stopped short of making a formal growth forecast, saying he’ll share that with Parliament in December.

Those observers would appear to include the World Bank, which in a report released Wednesday echoed Mr. Mukherjee’s fears: it said that India’s economic growth is likely to slow from 8.5% last year to between 7% and 8% over the next two years. In other words, all those GDP headlines are likely to include a 7, or 7 point something, not the 8 or 9 or even 10 of the government’s dreams.

So what’s to blame? In his speech, Mr. Mukherjee said global financial woes – from high oil prices to the volatility of other commodity prices and capital flows – were largely responsible. Monetary policy tightening and interest rates, a response to the country’s uncomfortably high inflation, didn’t help either, he noted. These are points the World Bank also covered.

If –as the finance minister put it – “the dark clouds [that] have gathered in the global skies” are to blame, why isn’t China also suffering?

It appears that Beijing has done better than New Delhi at boosting domestic demand, an area that acquired greater relevance as Western countries are struggling with a prolonged economic slowdown.

“With the slow growth expected in core OECD countries, India’s GDP growth will have to rely on domestic growth drivers,” the report said. To do this, it said major structural reforms aimed at achieving fiscal consolidation (another big challenge for India) and at encouraging investment would be necessary. It said that “regulatory uncertainties” – ranging from environmental clearances to land acquisition laws to tax reforms – were holding back investors, an issue that is less of a problem in China. To strengthen domestic growth, it urged India to clear these up and to invest in infrastructure, among others.

China, by comparison, is now relying more heavily on its domestic demand and this is already helping its economy make up for a weaker export market.

Figures released earlier this week show that China’s gross domestic product expanded 9.1% in the quarter ended Sept. 30 from a year earlier, only slightly under analyst expectations of 9.2% growth.

The World Bank report also said that, compared to the current year, in the year through March 2011 India benefited from the strong performance of its agricultural sector, something that depends largely on a good monsoon.

Mr. Mukherjee invited his audience to look at the brighter side (rather than East.) “This is disappointing but at the same time we must not lose perspective of the global situation.”

However, China didn’t crop up in his comparison, which focused instead on debt-strapped Western countries – and their less than 2% growth

---------- Post added at 06:12 PM ---------- Previous post was at 06:09 PM ----------

which country has a better and much more powerful domestic market is so obvious when comparing the figures and facts.

 

[ChinaToday]

No one is going to "own" a century, who "owned" the 20th Century? Don't say US- remember at the start of the 20th the US economy was on its knees and for the middle Nazi Germany was a major Powerhouse. But what I would say regarding China VS India:

My job has taken me to both China and India- Dehli, Mumbai, Amritsar,Chandigarh/Beijing,Shanghai,,Hong Kong

And my comments are China is all style with no substance. It appears the GOVT is spending too much money trying to show off their success and show to the world that their system works- there is a shuttle train from the airport to the city in Shanghai that travels 300kph/hour, it is entirely pointless as the journey only takes about 7 mins but it ks a clear statement to all those entering China. It's a sham- I saw lots lf nice buildings out of my hotel window but then I couldn't check my emails or access my company's site from my laptop using the WIFI as they were all censored. Whilst there were some genuinely nice people in China most were insular and indifferent to my/any foreigner's presence and I was very wary lf the police and felt very uncomfortable whilst lutside of the hotel.


In india there isn't the glitz and the glam but the "bottom-up" approach is reaping tangible benefits and actually benefiting the Indian people. And the people themselves lived up to their stereotype- truly friendly and warm and willing to help/assist and joke.


I'd rather be a poor man in India and ve truly free than a rich man in China who always has to look over his shoulder.

i really doubt you been to china at all from reading your post, with 3 trillions + in reserves i dont think we can be class as spending too much money, and stop lying too i been to shanghai several times and every time i was there i hardly seen any police on the street, only criminals has to look back over his shoulder cos they have something to be afraid of.As for your last statement can a poor man truely free in india? please read this

Choice between being poor and freedom seem like a black and white choice. In reality, it is never that simple and straight forward. As many commentators pointed out, being dirt poor also attaches with many more problems such as loss of freedom, loss of political voice, loss of security for other family members, loss of medical insurance, loss of entertainment, and a starving stomach. Although India has implemented a so call democratic system, it is not fully permeated into the society. Religious caste system is still hinder its development. Some regions are inaccessible unless one has obtained a permit of entrance called the Inner Line Permit for Indian and a foreigner needs to apply for entrance into Foreigner Protected Area. Some of these areas are in Kashmir, Azzam, Sikkim, and Arunachal Pradesh. These restrictions on freedom of movement are not part of the democratic system most Westerns conceived in their understanding of democracy. Also, there are many violence perpetuated in the religious caste system in rural areas. Being branded as a Dhalits in the caste system has consequences beyond a person beyond the imagination of a Westerners living in a secured society. It seems any improvement in the Indian society comes in a snail pace.
On the other hand, China is no longer a communist or dictatorial country. It is a socialist country that is contemplating a revisions to its political system. At the village level, there are some forms of elections and still more experiments are being implemented to find a suitable system. Also, gradual changes are being implemented to improve these elections systems. The anti-corruption system had been reorganized two years ago and it started to work into the system. This anti-corruption system is basically lacking in India. Some of the Chinese have been slow in adjusting to the system and not to mention foreigners. Chinese citizens are allowed to practice all the main religion but not allow to connect with foreign organizations such as the Vatican like UK does. So, basically religion should not interfere with the working of the government. If one really travels in China, as many people had, there are not many restrictions unless one is contemplated to over throw the government. If people who have not travelled in China, there are many misconceptions about the system.

 

[Jade]

Hahaha. The reality is that India's growth is sinking to 7%, even before they even managed to enter the double-digit race in the first place. While China's has already had several decades of double-digit growth, and even today is still the fastest growing major economy in the world.

I am glad though, it seems Indians have given up on trying to beat us via competition, and are now simply hoping that we will collapse.

P.S. Exports make up only 27% of China's GDP, according to the World Bank.

P.S.S. Hong Kong has never been a democracy, yet our income and social indicators are equal to that of the first-world countries. This is the future of the mainland as well, it shows what a Chinese society can achieve, after only a few short decades of development.

It is not India vs. China. The coming down of growth rates is not something that is applicable only to India, but is a global phenomenon. Eurozone crisis is affecting the world economy more than what people would like to believe.

As regarding India overtaking China’s growth rate, it sure will happen in near future. It is logical that more developed you are, the lesser is your growth rate. You cannot expect Europe and US to grow at 8 to 9%.

As regarding HK, I have first-hand information. We get exchange students from HKUST Business School. We study together for three months. HK is not China. These are not my words, but of the Chinese students studying at HKUST. 70 of the global top 100 banks have offices in HK. The seventh largest stock exchange is in HK. HK is the sixth largest market for foreign exchange. HK has been ranked the world’s freest economy for 17 consecutive years. No wonder Chinese follow two systems: one for HK and the other for mainland China.

 

[ashok321]

Hong Kong achieved what it did with 7 million Chinese people.

And that is-was?

 

[Jade]

we all live in one form of authoritarian/dictatorship the only different is you get to elect your authoritarian/dictatorship,dont bet on there is another tiananmen square as long as our economy is doing fine it wont happen.overall your arguement is very weak, you seem to forget the usa debt and the euro economy crisis at the moment.

No, we all don't live in authoritarian/dictatorship forms of governance. I should say you argument is weak, because there is a condition attached to your argument. You say Tiananmen Square won't happen as long as your economy is doing fine. What happens if your economy is not fine. Business cycles do happen. Economies will experience ups and downs. Will Tiananmen Square happen if your economy is not fine? at least that's what your argument says.

 

[Jade]

It should not be totally authoritarian but at least semi-authoritarian. Especially for a country with more than 1 billion people. Otherwise the present chaos, scams, poverty, corruption, power cuts, water cuts etc will continue to happen. Unless your type of ultra-democratic liberals realize this, our country will keep suffering.

Look at my avatar, that’s me. Do I look like ‘ultra-democratic liberals’ type ? I am as materialistic as one can get. I am as patriotic as you are; however, I believe that, given our country’s diversity, largeness and different ideologies, democracy is the only way forward, and that the threshold to take on stocks is greatest in a democratic setup than other forms of governance. I also believe that it is wrong to correlate chaos, scams, poverty, corruption, power cuts, and water cuts with democracy. In the history, some of the most corrupt governments have always been of authoritarian/dictatorship type. Majority of authoritarian/dictatorship types have inflicted untold miseries on their own people.