Book Excerpts
INDIA'S ENTREPRENEURIAL ADVANTAGE
Rob Salkowitz
Forbes, June 29, 2010
"How can you write about the future of emerging economies without talking about China?" asked one of my reviewers. I was sending around an early draft of the manuscript for my new book, Young World Rising. After all, the reviewer reasoned, everyone knows that China and India are the conjoined siblings of the developing world: two giants pursuing contrasting strategies to lift their billions out of poverty. And they're a partner act. Splitting them up would be like booking Abbot without Costello.
In Young World Rising, I look at development through the lens of demographics: particularly, the unique relationship between youth, technology adoption and willingness to take entrepreneurial risk. In a global economy based on knowledge, innovation and the ability to adapt quickly to new conditions, countries with a young center of gravity to their workforce will enjoy a significant competitive advantage as the old centers of the 20th century economy get grayer, slower and more conservative in their outlook toward risk and change.
Demographically, India and China are starting from a comparable place, but moving in opposite directions. In my view, this has profound consequences for their future development in a global knowledge economy fueled by entrepreneurship and bottom-up innovation. Both China and India have populations in excess of 1 billion and are experiencing rapid, if uneven, economic growth. Today, both are relatively young. China's median age is around 34, India's about 26. (By comparison, the U.S. median age is 36.7).
Forbes, June 29, 2010
"How can you write about the future of emerging economies without talking about China?" asked one of my reviewers. I was sending around an early draft of the manuscript for my new book, Young World Rising. After all, the reviewer reasoned, everyone knows that China and India are the conjoined siblings of the developing world: two giants pursuing contrasting strategies to lift their billions out of poverty. And they're a partner act. Splitting them up would be like booking Abbot without Costello.
In Young World Rising, I look at development through the lens of demographics: particularly, the unique relationship between youth, technology adoption and willingness to take entrepreneurial risk. In a global economy based on knowledge, innovation and the ability to adapt quickly to new conditions, countries with a young center of gravity to their workforce will enjoy a significant competitive advantage as the old centers of the 20th century economy get grayer, slower and more conservative in their outlook toward risk and change.
Demographically, India and China are starting from a comparable place, but moving in opposite directions. In my view, this has profound consequences for their future development in a global knowledge economy fueled by entrepreneurship and bottom-up innovation. Both China and India have populations in excess of 1 billion and are experiencing rapid, if uneven, economic growth. Today, both are relatively young. China's median age is around 34, India's about 26. (By comparison, the U.S. median age is 36.7).
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