Why India Will Displace China as Global Growth Engine

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http://www.bloomberg.com/news/2012-12-16/why-india-will-displace-china-as-global-growth-engine.html

Most of us still look at China, the world’s second-largest economy, as the undisputed leader among major developing countries. In the long run, however, I’m betting on India to emerge as the more significant global economy.

Those who are dazzled by China often forget that much of the rapid growth before 2008 was caused by the shift of global manufacturing from Europe and the U.S., not by domestic-oriented activity. China’s economy remains export-driven, with consumers accounting for only 38 percent of gross domestic product, far below the levels of many developing and developed countries.

Chinese leaders are working to shift toward a more domestically directed economy. They want households to spend more and save much less than the current rate of almost 30 percent. One of the reasons that savings play such a big role is the high value Confucian society puts on providing for one’s family. The Chinese also save to pay for education for their children and to cover health care and retirement costs because there is no equivalent of Medicare and Social Security.

In 2010, the Chinese government promised basic health care for all by 2020. That’s eight years from now, and basic care remains pretty basic. In some rural hospitals, a practical nurse is the most highly trained medical practitioner.

Continue here: http://www.bloomberg.com/news/2012-12-16/why-india-will-displace-china-as-global-growth-engine.html

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i agree with this guy..india will be supported by the west far more than china..and it wont be attacked/destabilised via proxies created in surrounding countries either..

401

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~ by seeker401 on December 28, 2012.

3 Responses to “Why India Will Displace China as Global Growth Engine”

  1. india does not have any elite ‘bloodline’ families. even china has one (the Li family). that’s why india is passed around as a jewel for various crowns – first the sultans of qatar and elsewhere with their jew-and-christian invented pre-communist communism called islam, then the british crown, and now the vatican’s.

    take a look at how the elite families have treated their own nations. in a sense that gives india a chance to do something differently – something without the yolk of the elites. sadly, it’s mostly a nation of uncle toms who go whichever way the wind blows.

    china has been totally screwed by elite central management. this idea that you can completely wipe a country’s intellectual class clean and then rebuild it has and always will prove disastrous.

  2. Reblogged this on RD Revilo.

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