China vs India: Chasing the Dragon

[KleanKoke]

How the Asian superpowers compare on various measures of development

IN THE recent Singapore Grand Prix, a car belonging to the Force India team reached the finish line just 111 seconds after the leader. Today's chart uses a stopwatch to compare India's progress in development against another pace-setter, China. The chart shows the number of years that have elapsed since China passed the development milestones that India has now reached. India's income per head, for example, was about $3,200 in 2009 (holding purchasing power constant across time and between countries). China reached that level of development nine years ago. The lag in social progress is much longer. A child's odds of surviving past their fifth birthday are as bad in India today as they were in China in the 1970s. Moreover, the chart does not necessarily imply that India in nine years' time will be as rich as China is today. That is because China grew faster in the last nine years than India is likely to grow over the next nine. We stopped the clock at $3200 per head. But China did not stop racing ahead.

Comparing India and China: Chasing the dragon | The Economist

 

[trackwhack]

All I can say is, a lot of people are gonna go green over the next 20 years watching my country putting theirs in their place.

Food for though for the Economist : What % of Englands Industrial base is likely going to be owned by Indians over the next 10, 20, 30 years? Now that could make for a very interesting study

 

[Ray]

The comparison of India with China is merely another ploy to ensure that India starts a race wherein foreign assistance, technology, knowhow, collaboration is desired and the foreign companies enter the Indian market. This will obviously be beneficial to the economy of the nations which enter the Indian market. It will also allow, if not controlled, foreign control of the Indian economy. That will be dangerous.

There is no doubt that China is way ahead of India. There are good reasons for the same. It is not a black and white reason that can be trotted out.

India is on the move and when the time comes, it will reach the goal.

Till then, whatever is happening will continue to happen. India need not get spooked into a race with China, though it should keep an eye of the progress of China. This is essential so as to avoid the mistakes that China may have made, whereby India does not have to reinvent the wheel,

 

[Galaxy]

China is benchmark Index and we are still far behind.

Only good thing about India is we have capability to catch the Dragon, may be 10 year or 20 years and 2nd Advantage is we are consumption based economy, So our growth will be good or moderate but won't crash/turn back upside-down. Also, we are democratic country, so there won't be any major uprising. We are not dependent on other countries.

But we are far behind and may be after 10-20 years, we will able to fill most of the gaps.

For Example: Adult Literacy of China is 94% whereas ours is 74% (2011 data), Our growth is around 10-14% CAGR for last couple of decades. So in next 2 decades, we might reach around 95%-98% same like China.

Internet user, Urban population, Per capita income, Higher education, growth of cities, Electricity and most of the other factors are directly proportional to GDP growth and Education. Remember, Most important part in any economy is GDP growth.

Let us assume, A Country GDP is 1 Trillion $. Growth 8% (+/- 1%), Inflation 6%(+/- 2%)
Then in 70 years, I trillion $ Economy becomes 100 trillion $.
But a country GDP is 1 Trillion $ and Growth 3% (Then Inflation won't make major difference), After 70 years, The GDP would be 10 Trillion $. Difference 10 times with 5% GDP growth difference.

If the magic of compound will continue, Then By 2050, Our economy will be around 50 Trillion $ from 1.7 Trillion $ currently. Where will be china @ that time, May be 35 Tr $ or 70 $. Does it make any difference at that time ? NO !!

So, We have to wait for comparison. As of now, China is way ahead. :thumb:

 

[agentperry]

the model of urbanization and foolishly following west is not right thing. the culture we have even though it allows fast food in sneak into our dietchart but still is more or less collective. we should not bring out people from villages, this will kill all the cities be it delhi, mumbai or 2 tier city indore.
we need to ensure that the villagers get a fair deal, they are not looted by a middleman.( one rich middleman means 100 poor farmer families).
people needs to be educated not necessarily in engineering or medical sciences but in the basis of mankind like in psychology, sociology maths english hindi or local language and other relevant subjects.
making all engg or doctors will only create ruckus because after a level we wont be able to place all those we have made in meantime.

health, education and freedom from exploitation needs to be guaranteed and not rosy pictures of cities( and they working in making apartments), cars( and they being drivers), IT( and they being peon in call centers) and big money( which they will guard as security guard outside bank).

 

[Energon]

Needless to say India lags China by a couple of decades in regards to development indices; albeit China has a significant head start of over two decades in development reforms.

I don't think India will develop nearly at the rate China has since it does not enjoy the benefit of an autocratic government that can implement and enforce legislation at will. Having said that, credit must be given to the exceptional leadership of the Chinese government. But at the same time India does not bear the burden of autocratic governance that is destined to clash with it's subjects at one point or another; and like the West the ultimate engine of development and success will be the people and not the government.

What sets China apart from India is the investment in world class infrastructure enabling better mobilization of the human capital. Unless and until India follows suit there will be no real comparison to be made.

 

[Armand2REP]

Needless to say China's numbers are cooked, at the very least unreliable. They don't know the meaning of the phrase "accurate accounting."

 

[redragon]

Needless to say China's numbers are cooked, at the very least unreliable. They don't know the meaning of the phrase "accurate accounting."

Mind you that is an ecomomist article, not from chinese daily, besides, do you think people still need # to tell how behind India is compared with china? It's better for Indians to realize the reality 100% so they will really focus on chasing, you are not helping them.

 

[SATISH]

Why chase a myth? I prefer staying at the same pace we are going in.

 

[redragon]

Why chase a myth? I prefer staying at the same pace we are going in.

I sincerely hope all indians are thinking in your way. I am sorry if I misunderstood Indians' goal

 

[Naren1987]

Honestly, I don't see the reason for competition with the Chinese.

 

[amitkriit]

Honestly, I don't see the reason for competition with the Chinese.

Competition is good, if it is healthy. China is well ahead of us, but we must not try to take short-cuts. Holistic and Sustainable development is the way forward.

 

[SATISH]

Competition is good, if it is healthy. China is well ahead of us, but we must not try to take short-cuts. Holistic and Sustainable development is the way forward.

Sustainable inclusive growth man! That is more important.

 

[LurkerBaba]

Sustainable inclusive growth man!

Yeah with 9% inflation