There is a lot of debate around the world about how China and India are on their way to become developed countries and many articles throw light on how different is the approach followed by these two countries. I would like to throw some light on this.
Let me tell you the fact first. Chinese are way ahead of Indians in most of the aspects when it comes to figures. Let me list out the numbers
China exports electronic goods worth $ 180 billion in a year
Foreign direct Investment (FDI) is at a level of $ 70 billion a year compared to India’s $ 15 billion
Shanghai alone has 4000 skyscrapers (more than all of India)
China has 60000 km of expressways which will outstrip the total length of US highway network
China has around 26 million living below poverty line compared to India’s 260 million.
China is expected to overtake Germany to become world’s third largest economy behind US and Japan.
All said and done about these numbers, not everything is rosy in China. The growth has taken place at a breath taking pace which has resulted in population displacement, farmers thrown of their lands, pollution level, flooding, rising disparity between rich and the poor, absence of human rights and few checks on governmental abuses.
Among top 25 exporters in China only 4 are Chinese companies. It has been estimated that of the $700 American price of a Chinese laptop, only $15 remains in China. Made in China really means Made by America or Europe in China. There is a dearth of world class managers in China to match Tatas, Reliance, Infy …. China’s Stock and capital markets are weak and banking system not that efficient. China’s legal system is under constant review.
Lets accept that we are growing at a slower pace than China. But democracy sustains in the long run. Indian politics ( though at its lowest ebb) marred with red taped bureaucracy is making a dent in the growth but lets give a thumbs up to the democracy considering how pluralistic our society is. We all know that a Catholic woman made way to a Sikh prime minister sworn in by a Muslim president, in a 81 % Hindu nation. Contrast this with China where political freedom is unknown. Leaders at all levels are handpicked. Though we are moving on a bumpy road, we are making sure that our vehicle doesn’t break down.
Numbers might give us a different picture but the fact remains that we are as a nation are progressing slowly but surely in the right way. The dragon (China) could stumble any moment and the elephant (India) can overtake the dragon in number game too…
Reference: Times of India, 3rd Aug 208, Why the elephant can dance better by Shashi Taroor
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