1-2 decades??? are you sure about it??? I know when you change your economic model things take time before they pay results but 1-2 decades??? This is a big overstatement...Of-course you don't open your markets just like that and you plan the move...China is ahead of us by a big margin and the 10 year head start is a major factor in it...Don't ignore it...If you have doubts compare the performance of China and India before 80's...No doubt each system has its flaws. However if you count the number of succesful countries then apart from China i see only democracies...Does that say anything to you???
No successful countries being democracy is nothing surprising. Communisim has been at odds with Democracy since its creation. To look at the number of countries the were successful under diferent types of gov't is not a true indicator because very few Communism based countries exist today and whatever is left, has sanctions placed like Cuba. Of Course, 10 yrs is important but you are glossing over the most important aspect of opening up the economy, the people in place have to be educated and taught to have a certain mindset. Think what is China;s best interest, nation over ppl, China against everyone, etc. Some may say this parnoia but this has helped the Chinese tremendously. The sort of conditioned their ppl to ripe the benefits of Western society while retaining their own identity and looking out for their interests first and only. Planning in China and India is different and should not be compared. India still has a lot to learn.
I have removed rest of the point because you are going all over...Look my point is that since we were a closed economy(we still have lot of issues there) it resulted in very slow growth. We have suffered a lot and our leaders are to blame for it...IG(Indira Gandhi) is one of them...period...
We did not grow externally, but we grew internally. Though this is not seen as an achievement, with a population of 1 billion, it turned out to be an asset. It has helped in the current recession, but to truly evolve and change for the better we have to become competitive and in order to do that, we need to open up and compete with the rest of the world. At the same time, laws and regulations have to help Indian companies like the Chinese help their own first, capitalize on our biggest resource, our ppl via edcuation (Khanacademy.com) and make them aware. Not everything in the West is good and some of the old ways in India and the world are better for the environment and personal health. Sorry I am all over the place, but its all kind of interconnected.
IG means indira gandhi..my bad....anyways you need to read more on this subject....
