India Inc will never catch up with China

[huaxia rox]

Allow me to repeat again: too many people is never a good thing, this especially applies to India (also China), home to 1/5 of humanity with just 2% of world's total surface area.

population issus can be very complicated....what i believe is its not ' too many people is never a good thing' it should be ' too many poor people is never a good thing' ......

japan as a nation with that small amount of terrory is still the de facto no.2 economy in the world while they have 200 million people and they dont even think they got enough.....why??coz they r rich and the more they have more rich they r....while if the same population density is found in prc then its a dooms day....coz we got too many poor people and the more we have the poorer we r at this point.....unless our nation is turned into a rich nation 1 child policy cant be largely changed....its painstaking but in the long run i think its worth doing.....

 

[tony4562]

so r u actually telling me swiss embassy in india is a liar???
Swiss Embassy says black money estimates lack evidence

and this article....r u telling me swiss as a nation is a liar nation??
The Hindu : Business / Economy : India ranks 55th on foreign money in Swiss banks

Anyone with IQ over 80 who believes that this trillion-dollar-black-money-in-swisss-banks stuff is anything other than someone's fantasy, needs to have his head checked.

 

[ani82v]

Anyone with IQ over 80 who believes that this trillion-dollar-black-money-in-swisss-banks stuff is anything other than someone's fantasy, needs to have his head checked.

Though this is not something that one should boast about but here you go...

INDIA`S BLACK MONEY IN SWISS BANK « MY ECONOMIST

Black money in Swiss banks — Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion

India has more money in Swiss bank than all the other countries combined.Second best Russia has 4 times lesser deposit. US is not even there in the counting in top five

That was till 2006. After recession and hue and cry over black money, either it has been moved to other countries or invested via some other means.
Additionally, there was no guarantee of anonymity of account holders in Swiss bank, therefore they are deposited in the name of Wealth Managers in Switzerland.

The article you posted, says

The Hindu : Business / Economy : India ranks 55th on foreign money in Swiss banks

Also, SNB's figures do not include the money that Indians or other nationals might have in Swiss banks in others' names. The total funds held by Indian individuals and entities include 2.025 billion Swiss francs held directly by them and 158 million held through 'fiduciaries' or wealth managers.

I am sure you are of astronomically high IQ, thats why you didn't bother to read the complete article. That would be a real insult to your 1023 KB size intelligence.

 

[ani82v]

Anyone with IQ over 80 who believes that this trillion-dollar-black-money-in-swisss-banks stuff is anything other than someone's fantasy, needs to have his head checked.

Though this is not something that one should boast about but here you go...

INDIA`S BLACK MONEY IN SWISS BANK � MY ECONOMIST

Black money in Swiss banks — Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion

India has more money in Swiss bank than all the other countries combined.Second best Russia has 4 times lesser deposit. US is not even there in the counting in top five

That was till 2006. After recession and hue and cry over black money, either it has been moved to other countries or invested via some other means.
Additionally, there was no guarantee of anonymity of account holders in Swiss bank, therefore they are deposited in the name of Clients in Switzerland.

The article you posted, says

The Hindu : Business / Economy : India ranks 55th on foreign money in Swiss banks

Also, SNB's figures do not include the money that Indians or other nationals might have in Swiss banks in others' names. The total funds held by Indian individuals and entities include 2.025 billion Swiss francs held directly by them and 158 million held through 'fiduciaries' or wealth managers.

I am sure you are of astronomically high IQ, thats why you didn't bother to read the complete article. That would be a real insult to your 1023 KB size intelligence.

 

[tony4562]

Show me one official document that says indian nationals have trillion dollar deposits in swiss banks. This is complete bulls*it, on the same level as the legend that claims 36% of NASA employers are indians. What amazes me is that no matter how many times this kind of gossip got debunked, some one some how will knowingly or not bring it up time and again.

 

[ani82v]

Show me one official document that says indian nationals have trillion dollar deposits in swiss banks. This is complete bulls*it, on the same level as the legend that claims 36% of NASA employers are indians. What amazes me is that no matter how many times this kind of gossip got debunked, some one will willingly or not bring it up time and again.

There is a reason why it is called BLACK!

 

[ice berg]

The myth is there is more than 1.5 trillion dollars in the video in the link it explains how the
number is close to 7 trillion dollars much more than China has. If you would read without
replying out of jealousy you would have realized it.

You sure it is not close to 30 trillions? I have posted official statements from Swiss banks. If you want to believe in urban legends, that is your call.

And jealous about how people rob their own country and stash away the money? For your own sake, I really hope you were been sarcastic. With people like you, what country need enemies?

 

[Energon]

Chinese economy has advantages over India like MFN trade status by USA .
Yes the Chinese economic is bigger but India with all it's structural problems still
has more dollar holdings than China.China is way behind. This money brought
back would help the economy greatly. BJP taskforce did a study in 2009 and they
concluded that more than 3 trillion dollars of Indian black money is in switzerland
and possibly 1 trillion in black money in luxembourg.

Report of BJP Taskforce on Black Money in Swiss Banks

Unsubstantiated dollar holdings mean absolutely nothing. China's economy is far great and far more productive than India's and it is the superior attributes that have gained them the MFN trade status.

The bottom line is that China has managed to tap its potential as opposed to India which seems bent on squandering it. This is exactly why India inc will never catch up to China (unless they change it).

 

[LETHALFORCE]

Though this is not something that one should boast about but here you go...

INDIA`S BLACK MONEY IN SWISS BANK � MY ECONOMIST


That was till 2006. After recession and hue and cry over black money, either it has been moved to other countries or invested via some other means.
Additionally, there was no guarantee of anonymity of account holders in Swiss bank, therefore they are deposited in the name of Clients in Switzerland.

The article you posted, says



I am sure you are of astronomically high IQ, thats why you didn't bother to read the complete article. That would be a real insult to your 1023 KB size intelligence.

This is a link to the BJP 2009 task force report

Report of BJP Taskforce on Black Money in Swiss Banks

2.5 trillion + in switzerland and possibly 1 trillion in luxebourg and this does not include the other
big ones like mauritius,cayman islands etc...

 

[Energon]

population issus can be very complicated....what i believe is its not ' too many people is never a good thing' it should be ' too many poor people is never a good thing' ......

japan as a nation with that small amount of terrory is still the de facto no.2 economy in the world while they have 200 million people and they dont even think they got enough.....why??coz they r rich and the more they have more rich they r....while if the same population density is found in prc then its a dooms day....coz we got too many poor people and the more we have the poorer we r at this point.....unless our nation is turned into a rich nation 1 child policy cant be largely changed....its painstaking but in the long run i think its worth doing.....

This is correct, it isn't necessarily the population itself but the wealth and productivity of the entire populace that matters. This is the basic principle behind the demographic dividend theory, which I do think is sound in theory.

China has done a really good job investing in its people. However with the benefits of an education and economic opportunity the people are bound to become empowered, so eventually it will come down to how the government manages to share the power with its people.

The one child policy may prove to be disastrous yet. The inevitable inverse cone population demographic graph will more than likely unleash havoc upon the economy.

 

[roma]

it is unlikely to challenge dragon in any substantial way - not with the present form of governance

 

[nimo_cn]

The titile is sensational, but the article itself has some merits.

A large population doesn't necessarily translate into dividend unless it is fully and efficiently tapped. As I see it, India has been simply wasting it for decades.

Millions of peasants are stranded in the farmland, working with their bare hands in the most primitive and most unproductive way, and most of the younger generations are joining them because they fail to receive proper training and education to liberate them from working in the farmland. That is totally a waste of human resource.

As the Indian population grows larger, it brings in pressure as well. More people need more food, more water, more land and more space, but such resources are limited. People will fight for the basic resources if their needs aren't fulfilled, as we have witnessed what happened in North India these days.

 

[Bhadra]

who ever thought that Chinese will ever catch up?
so do not make stupid prediction. Humans live with hopes and positive hope which materialise !

 

[ani82v]

The titile is sensational, but the article itself has some merits.

A large population doesn't necessarily translate into dividend unless it is fully and efficiently tapped. As I see it, India has been simply wasting it for decades.

Millions of peasants are stranded in the farmland, working with their bare hands in the most primitive and most unproductive way, and most of the younger generations are joining them because they fail to receive proper training and education to liberate them from working in the farmland. That is totally a waste of human resource.

As the Indian population grows larger, it brings in pressure as well. More people need more food, more water, more land and more space, but such resources are limited. People will fight for the basic resources if their needs aren't fulfilled, as we have witnessed what happened in North India these days.

+1. Governance and better utilization of resources was supposed to be top priority. Squandering is what they have been doing for such a long time.
If Govt just brings agricultural reforms that itself would bring millions out of poverty and its cascading effect to other sectors will be nothing short of economic revolution.

But that is precisely Govt is NOT doing. Not even discussing.

 

[tony4562]

This is a link to the BJP 2009 task force report

Report of BJP Taskforce on Black Money in Swiss Banks

2.5 trillion + in switzerland and possibly 1 trillion in luxebourg and this does not include the other
big ones like mauritius,cayman islands etc...

A report by the BJP carries about as much credibility as an article by the british tabloids, in other words very little or none at all. China's has 3 trillion dollars in foreign reserve, so it has been the focus of much int'l attention. If India's black money were twice that amount, you would have been hearing about it every day in every media the last 5-6 years. The IMF would have talked about it, the world bank would have talked about it, the Yankee government would have talked about it, the WSJ and the Economist would have been all over it, but in reality you never hear it once you leave places like this. That's why this is urban legend and nothing more.

And it is not the first time that such urban legends made their ways to top indian politics. Check India rising in US: Govt falls victim to net hoax - Times Of India

 

[roma]

it is not the first time that such urban legends made their ways to top indian politics. Check India rising in US: Govt falls victim to net hoax - Times Of India

never mind your long post

the 15% growth for gujerat is no hoax - even dragon takes it seriously enough to have invited the Gujerat PM to peking for talks

 

[LETHALFORCE]

A report by the BJP carries about as much credibility as an article by the british tabloids, in other words very little or none at all. China's has 3 trillion dollars in foreign reserve, so it has been the focus of much int'l attention. If India's black money were twice that amount, you would have been hearing about it every day in every media the last 5-6 years. The IMF would have talked about it, the world bank would have talked about it, the Yankee government would have talked about it, the WSJ and the Economist would have been all over it, but in reality you never hear it once you leave places like this. That's why this is urban legend and nothing more.

And it is not the first time that such urban legends made their ways to top indian politics. Check India rising in US: Govt falls victim to net hoax - Times Of India

How would you hear about it with swiss secrecy laws and money spread over different countries?
China has 1 trillion dollar holdings don't count debt holdings as an asset. China has 3 trillion in US
securities out of which is 1.7 trillion worthless US debt which has no market.India's black money is
reported almost daily.


China, with $3.2 trillion in foreign-exchange reserves, has begun to rapidly diversify its currencies portfolio.

"It clearly indicates China's intention not to put all its eggs in one basket," said Lu Feng, director of Peking University's China Macroeconomic Research Center.

China still remains a strong buyer of U.S. debt. China's holdings of U.S. securities rose 7% to $1.73 trillion as of June 30, an increase of $115 billion from 12 months earlier, Treasury data show.

http://online.wsj.com/article/SB10001424052970203753704577254794068655760.html

 

[ice berg]

How would you hear about it with swiss secrecy laws and money spread over different countries?
China has 1 trillion dollar holdings don't count debt holdings as an asset. China has 3 trillion in US
securities out of which is 1.7 trillion worthless US debt which has no market.India's black money is
reported almost daily.


China, with $3.2 trillion in foreign-exchange reserves, has begun to rapidly diversify its currencies portfolio.

"It clearly indicates China's intention not to put all its eggs in one basket," said Lu Feng, director of Peking University's China Macroeconomic Research Center.

China still remains a strong buyer of U.S. debt. China's holdings of U.S. securities rose 7% to $1.73 trillion as of June 30, an increase of $115 billion from 12 months earlier, Treasury data show.

China's Share of Reserves in U.S. Dollar Is Reduced - WSJ.com

It is first time I heard some americans claim US securities are worthless. Kudos. Too bad no economists have the same insight that you have.

I suggest you leave economy related issues to the adults.

 

[Ray]

Iceberg,

True Lethal Force is actually is a highly recognised international economist.

I wish I could reveal his identity.

Now, since you wish to show you are a great Chinese economist, could you prove that he is wrong?

 

[ice berg]

Iceberg,

True Lethal Force is actually is a highly recognised international economist.

I wish I could reveal his identity.

Now, since you wish to show you are a great Chinese economist, could you prove that he is wrong?

The same "highly recognised international economist" who relied on video links to how India stashed 7 trillion dollars in Swiss banks when the bank it-self claimed there were no such statistics?

With "economists" like that, no wonder US is facing the greateste recession since The Great Depression.

Those economists are just busy spreading sensational news on DFI. :cool2: