India bridges urban-rural divide better
Good friend Anirudha Dutta sent me this article which says that contrary to popular hype, India is doing far better than China in eliminating rural poverty. If true, it is indeed good news. In fact, what if the global economy remains mired in stagnation next year too? what happens to the export-led growth model in China? If, in contrast, that stagnation lowers commodity prices, would it not help a domestic economy-led India more? What could happen to India-China relations in that scenario?
I explore some (not all) of these issues in an article in the upcoming July issue of Pragati.
Interesting read. I always felt China was a better role model as it does not have as much corruption. In my opinion high moral standard is a long term base for prosperity of the society. Indian moral standards are being driven by role model politicians who are doing their utmost to fleece the poor of their due. Its largely uneducated and ignorant populace are being shown short term gains for loss of long term prosperity. Our economic situation warrants urgent remedy. We are in perennial debt trap that our children need to pay for. With no sign deficit easing, it is imperative we control costs, specially of non-essential items like ministries. I think China has far better fiscal discipline with ability to bridge the divide mentioned in the article fairly quickly.
Cant wait for the article
[...] The Gold Standard, there is an excellent article in the WSJ on the Chinese/India economy comparison by John [...]