I haven't read all the posts because there are too many.
China's growth has been spectacular and obviously the process has been very complex. But for the sake of this post here's my overly simplified view:
1. Obviously the credit goes to China's leadership. The CCP's greatest attributes are their ability to learn, plan, execute and adjust. All of their successes thus far can be traced back to these core values in one way or another.
2. Investment into infrastructure. I have no doubt that a massive investment into nationwide infrastructure is by far the best move a developing nation can make. I also consider education to be a structural factor, and here too China has done an excellent job in educating the masses.
3. Astute policy making: The Chinese establishment has been brilliant when it comes to designing policy. I'm particularly impressed by the astute foreign policy which has enabled them to expand rapidly into Africa, Central Asia and South America giving them total control over natural resources and complete domination of the markets.
Having said that this will eventually backfire because the above mentioned factors are indicative of a ruthless mercantile economy, which is exactly what China is. But this won't happen for at least 3 decades, giving China the time they need to become a developed nation.
4. Points 2 and 3 are responsible for China's greatest strength... industrial capacity. China's industrial capabilities have grown at an extremely impressive rate and I have no doubt they will catch up to developed nations within the next 2 decades. I'm not a believer in the whole post-industrial society nonsense. Industrial production is still the best macroeconomic tool to maintain a healthy middle class. Needless to say China has made great advances here.
India has not succeeded in any of these critical areas and hence this is why China will eventually catch up with the developed world and India won't.
well, india government is extremely is short of efficiency....its democratic system is not fit for execution....its caste system stll hold back the development.
Yes, the Indian government is very inefficient. It also seems that the democratic process is a retardant. However it isn't. As bad and as chaotic as the Indian system of democracy appears to be it has actually improved over time. Yes, the Indian society is still heavily marred by things like the caste system, however if you examine the past six decades, India's democratic process has improved considerably and I am fairly certain that it will continue to do so.
True liberty through democracy is still the hardest achievement for any society; this was also the defining factor of the West's categorical supremacy after the 17th century. To date there has been no other society as large and as heterogeneous as India's to have succeeded at the democratic experiment. The dividends of a successful democratic society will be unparalleled in the long run, and the heterogeneity which now appears to be a burden will eventually become a strength because it serves as a never ending source of fuel for societal vibrancy.
Honestly this hope of China eventually turning into a democratic society is delusional. China as a society is actually moving away from true democracy, granted the allure of material success currently makes it appear irrelevant. But eventually it will become very, very relevant. Yes, from a day to day perspective of the common man, palpable material gains leading to an improved quality of life is far more important than achieving democracy, and as I said earlier, this may seem irrelevant in the short term. However if you see, the oil rich states of the middle east are very much as par with the West when it comes to structural and material wealth, however there will always be a difference between their identity as autocratic states compared to the democratic Western nations.
