India and China - growth beyond boundaries
Anything that is created must sooner or later die. Enlightenment is permanent because we have not produced it; we have merely discovered it.
Chogyam Trungpa (famous Buddhist quote)
Staggering stats - India & China share common ground in many fields, yet there are a few clear-cut differences too.
India has got the chunk of the BPO industry. There are indications of a further increase, this along with their software export makes it a lively economy.
China on the other hand is going to become the biggest economy by 2050. Low manufacturing costs resulting in cheap exports has boasted their economy.
At present India's growing at 8% annually and soon they are expected to stablise at 10% annually. Their GDP per capita is 800 billion dollars.
China which had seen tremendous growth percentages of 15% during mid-90s and 13% in 2001, will also coast along a growth percentage of 10%. China's GDP per capita is 6300 billion dollars.
We need to note the growth of the US at 2% and their GDP per capita being 13000 billion dollars.
There are a few distinctive differences though they share a similar genre of workforce. Their ideals and implementational techniques vary to a great extent.
To start with India and China took different approaches to population control. India were the liberal of the two in implementing the stringent measures required to control population.
While India’s average age is 26 and is espected to come down further, China’s population seems to have got steady and has even reached a stage where it's working class has slowly started to dwindle. This in effect would mean a smaller workforce. India will have a growing working class, the concern would be on the proportional growth in agriculture and employment opportunities thats required.
Need to note that Japan has a huge depleting working population. Soon around 25-30% of the population would be above the age of 60.
However for India and China to grow they need to over come few hurdles.
China would have to expand its English-speaking population. Huge strides have already been made towards this goal.
India on the other hand needs to be proactive on Infrastructure development, currently they have their task cut out.
Chogyam Trungpa (famous Buddhist quote)
Staggering stats - India & China share common ground in many fields, yet there are a few clear-cut differences too.
India has got the chunk of the BPO industry. There are indications of a further increase, this along with their software export makes it a lively economy.
China on the other hand is going to become the biggest economy by 2050. Low manufacturing costs resulting in cheap exports has boasted their economy.
At present India's growing at 8% annually and soon they are expected to stablise at 10% annually. Their GDP per capita is 800 billion dollars.
China which had seen tremendous growth percentages of 15% during mid-90s and 13% in 2001, will also coast along a growth percentage of 10%. China's GDP per capita is 6300 billion dollars.
We need to note the growth of the US at 2% and their GDP per capita being 13000 billion dollars.
There are a few distinctive differences though they share a similar genre of workforce. Their ideals and implementational techniques vary to a great extent.
To start with India and China took different approaches to population control. India were the liberal of the two in implementing the stringent measures required to control population.
While India’s average age is 26 and is espected to come down further, China’s population seems to have got steady and has even reached a stage where it's working class has slowly started to dwindle. This in effect would mean a smaller workforce. India will have a growing working class, the concern would be on the proportional growth in agriculture and employment opportunities thats required.
Need to note that Japan has a huge depleting working population. Soon around 25-30% of the population would be above the age of 60.
However for India and China to grow they need to over come few hurdles.
China would have to expand its English-speaking population. Huge strides have already been made towards this goal.
India on the other hand needs to be proactive on Infrastructure development, currently they have their task cut out.
The focus and strength of emerging powers would be in identify their weaknesses and converting them to strengths. With World Business looking eastwards, it would be interesting to track the economic development of these two economic powers.
pic: http://www.koreaherald.co.kr
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posted by PressMart Team at
12:44 PM
3 Comments:
Nice speculation
About the Indian stock market crash; I think the actual value of the stocks is 8000-9000 points. The rest is hyped.
Interesting statistics. I think US will also be affected greatly by their dwindling working population and their huge retirement/social security benefits. There are talks on reducing the retirement benefits for future generations.
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