What is the similarity in the articles you would read in The Times of India, The Hindu, Rediff.com, New York Times, Wall Street Journal, and sometimes even in Columbus Dispatch - the growing acceptance all over the world that India and China are the world's next two superpowers in-the-making; the fact that 2.4 billion people represent more than 30% of the human population and collectively they could eat up all the energy resources in the world, and push oil prices to levels unseen so far; and the reality that China has raced far ahead of India during the last 20 years and India is trying hard at covering up the gap.
Though, in principle, I do not agree with the view held by the Western media, which is, at times, reflected even in the Indian media, I completely despise the comparisons India is subjected to against China, because there are inherent differences in the way both the countries chose to "develop" economically. (Let me make it clear that I have a different meaning for the term development and I do not necessarily agree with the generally accepted meaning of the term). Before we go into the comparison, let us see the points of similarity between these 2 countries.
1. Both India and China became independent around the same time from colonial rule.
2. They are large countries and have a large population, which, in present age, means that both have a large workforce and a large market for anyone to sell anything.
3. Both of them are in a drive to "develop" economically and have partly or fully adopted the model used by the Western world.
Now lets come to the critical differences.
From the begining, the US had a soft corner for China, which ultimately resulted in China getting the coveted Permanent membership of the Security Council. though many would argue that Security Council and the UN are puppets in the hands of the US and thus make no sense, China made the most use of it and sided with the US on every public forum, and was thus able to turn into a reliable friend which the US could trust on any issue. (Only now the US has realised its folly, when it sees its market literally swamped with "Made in china" products, its people losing their manufacturing jobs to their Chinese counterparts and Chinese economy looking to challenge the supremacy of the US). Though built on the Communist model, very soon China threw the policies of Mao Zedong (pronounced Tse-tung) into the trash bin and went into a frenzied makeover of its ailing public companies which had accumulated losses to the tune of billions of dollars. Interstingly at around the same time, India had experimented with the idea of "Open Market" and by 1977, when the new socialist govt. took over, comapanies like Coke and IBM were thrown out of the country, only to be later called back in early 90's.
Though, in principle, I do not agree with the view held by the Western media, which is, at times, reflected even in the Indian media, I completely despise the comparisons India is subjected to against China, because there are inherent differences in the way both the countries chose to "develop" economically. (Let me make it clear that I have a different meaning for the term development and I do not necessarily agree with the generally accepted meaning of the term). Before we go into the comparison, let us see the points of similarity between these 2 countries.
1. Both India and China became independent around the same time from colonial rule.
2. They are large countries and have a large population, which, in present age, means that both have a large workforce and a large market for anyone to sell anything.
3. Both of them are in a drive to "develop" economically and have partly or fully adopted the model used by the Western world.
Now lets come to the critical differences.
From the begining, the US had a soft corner for China, which ultimately resulted in China getting the coveted Permanent membership of the Security Council. though many would argue that Security Council and the UN are puppets in the hands of the US and thus make no sense, China made the most use of it and sided with the US on every public forum, and was thus able to turn into a reliable friend which the US could trust on any issue. (Only now the US has realised its folly, when it sees its market literally swamped with "Made in china" products, its people losing their manufacturing jobs to their Chinese counterparts and Chinese economy looking to challenge the supremacy of the US). Though built on the Communist model, very soon China threw the policies of Mao Zedong (pronounced Tse-tung) into the trash bin and went into a frenzied makeover of its ailing public companies which had accumulated losses to the tune of billions of dollars. Interstingly at around the same time, India had experimented with the idea of "Open Market" and by 1977, when the new socialist govt. took over, comapanies like Coke and IBM were thrown out of the country, only to be later called back in early 90's.
.....To be continued in Part II
1 comment:
Kalakkaraye machi.. economics naatu nomics laam pirikkyara?
Looking forward for part 2.
J'Naut.
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