India's manufacturing industry growth rate is around 1% for the first half year of 2017 ...Modi's "Make in India", as expected, ends up as a hollow slogan.
when u talk about china's development model, don't forget China in her early development stage, rarely used international loan to develop her own infrastructure. Most of those huge investments came from demestic debts,
thanks to Chinese people's high gross saving rate. When China developed her high speed rail system more than 10 yrs ago, she paid cash directly to international winning bidders, not dependent on foreign loans..... Everybody knows India desperately needs to improve their broken infrastructure, but the problem is where the money comes from?
Today's world is also quite different from when China at her early development stage. What is dominant today is protectionism, while 20 yrs ago, free trade was what people most likely talked about. 20 years ago, there was no country called China who dominated most of the middle to low end industries in the world. There were some similar economies at that time who were ahead of China, like South Korea, Taiwan, Singapore, Hong kong, but their size were too small to block China's path. China, after all these years development, accumulates huge production and consumption advantage, produces and consumes more than the rest of the world combined on many basic products like iron, steel, cement....The per capita consumptions of those basic products indicate what development stage are you in, you need those stuff to build bridges, rail, highway, nice house (with toilets of course) for every ordinary person. FYI China's per capita consumption on steel is still much lower than her east Asian neighbors Japan S korea and even Taiwan. When India talks about surpassing China, or becoming next China, please first take a look at their steel production to see if it is comparable to Today's China, the number is around 0.9 billion tons in 2016, out of 1.6 billion tons of global production, equivalent to 0.67 ton per capita for China. If India cannot reach this number, there is no way to provide decent living standard to the ordinary people.
when u talk about china's development model, don't forget China in her early development stage, rarely used international loan to develop her own infrastructure. Most of those huge investments came from demestic debts,
thanks to Chinese people's high gross saving rate. When China developed her high speed rail system more than 10 yrs ago, she paid cash directly to international winning bidders, not dependent on foreign loans..... Everybody knows India desperately needs to improve their broken infrastructure, but the problem is where the money comes from?
Today's world is also quite different from when China at her early development stage. What is dominant today is protectionism, while 20 yrs ago, free trade was what people most likely talked about. 20 years ago, there was no country called China who dominated most of the middle to low end industries in the world. There were some similar economies at that time who were ahead of China, like South Korea, Taiwan, Singapore, Hong kong, but their size were too small to block China's path. China, after all these years development, accumulates huge production and consumption advantage, produces and consumes more than the rest of the world combined on many basic products like iron, steel, cement....The per capita consumptions of those basic products indicate what development stage are you in, you need those stuff to build bridges, rail, highway, nice house (with toilets of course) for every ordinary person. FYI China's per capita consumption on steel is still much lower than her east Asian neighbors Japan S korea and even Taiwan. When India talks about surpassing China, or becoming next China, please first take a look at their steel production to see if it is comparable to Today's China, the number is around 0.9 billion tons in 2016, out of 1.6 billion tons of global production, equivalent to 0.67 ton per capita for China. If India cannot reach this number, there is no way to provide decent living standard to the ordinary people.
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) He also said China is not innovative compared to Western world.
