Indians have woke up:
The birth of a giant: As everybody speaks about China and about its growth, India is now giving a good economic potential, maybe better than China for the long term.
India, like China, is accumulating performances. India is following China's way according to what the international economy is concerned: a growth rate of 8% this year. But contrary to Pekin(or Beijing), New-Delhi makes life better for more than 1 billion and that too in a democratic way. This is where the Indian miracle found its way: the mixture of good politics and good economics. But we have to take into account that the Indian democracy is political but it's not social. Indeed, even if cities like Bangalore are very modern and also high-tech, where there is freedom to do anything, other cities suffer from the system of castes.
The predilection field of India is, of course, the younger generation who are better educated and more sensitive to the international world. In each and every promising field like technology, biology, medical system, India is holding ground.
[...] Differences between China and India in term of development strategies: The development strategies of these two countries are different in many ways. Foreign investment: Contrary to India, China receives a lot of foreign investment which is the main factor of its development, and has an important impact on the growth rate. Indeed, China represents the third most popular destination, after France and Luxembourg with more than 50 billion dollars in 2002. India received only 5 billion dollars of foreign investment which are 10 times less compared to China. [...]
[...] India is following China's way as far as international economy is concerned, with a growth of this year. However, contrary to Peking, New-Delhi facilitates the lives of more than 1 billion citizens in a democratic way. This is where the Indian miracle is found; in the mix of a good political and a good economic policy. Yet it is noteworthy that Indian democracy is political, but it is not social. Indeed, though cities like Bangalore are very modern and high- tech with a progressive other societies, there are other cities which suffer from the caste system. [...]
[...] A national feeling was developed in the fight for independence, and is combined with an extraordinary vitality. Important common features: -Populations of India and China are young, promise a control of demography in terms of two or three decades, which nobody anticipated. -The middle class will be soon be as important as in Europe, shared passion for Internet and the will to take part in the numerical revolution. -An enormous potential on both sides, which is unmatched elsewhere in the world. [...]
[...] It is commonly believed that the expeditious methods which have served China are also those which threaten it, but it is not possible to anticipate how this may happen. On the contrary, the slowness of India guarantees its stability. The Chinese model has a “turbo” engine which works on two fronts. It functions on foreign authoritarianism and investments. These capital contributions which are twelve times higher in China than in India, essentially explain the difference of the growth rates. Why is this preference for China seen? [...]
[...] India has becomes an important power in the world, even if this development has come later than China. Nowadays, India represents a good opportunity for multinationals with inexpensive labor, and more and more qualified works in the sectors of informatics and banking. An Indian workforce which is changing fast: The potential of the manpower in India is today, a trump card, as it consists of skilled adults. Contrary to China, India possesses skilled workforce, particularly in the scientific domain, the level of English of which is ranked second in the world after the United States engineers in data processing are available every year, with a recognized competence all over the world. [...]
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