Tuesday 9 March 2010


CHINA AND INDIA: THE PROVERBIAL HARE AND TORTOISE?

Chris Devonshire-Ellis

2point6billion, March 9, 2010

As India begins to prepare itself for a second wave of growth in the aftermath of what has indeed proven to be a difficult financial crisis for Asia, questions are now being asked as to the extent of competition India really brings to global markets when measured up against China.

In some respects, the rise of India has been greatly overshadowed by what has happened in China over the past twenty years. If the development in China had not occurred, then it would be India that would be considered the new darling of global growth. To some extent, that has enabled India to commence its own growth curves without the media attention that has been focused on China. In other ways, however, there is little doubt that the phenomenal growth of China has served to spur India into action, and to finally release the country from its moribund, 50-year hangover of independence from Britain.

While China has largely dominated headlines, India has begun to act. In fact, over much of the past decade, India’s growth patterns have mirrored China’s at an average of about 8 percent per annum until the financial crisis hit, albeit coming from a far smaller base. Currently however, India’s share of global trade is a little under 20 percent of China’s total. But with an economy about to break into the global top ten in terms of size – India currently is in twelfth position – the global community is both starting to take note of India’s rise and to appreciate the clout; as well as the opportunities such power brings.

(...) [artículo aquí]

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