Wednesday, June 28

Will China and India prove better than the West?

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The world economic growth is no doubt a lopsided affair. The Western countries have been dominating the world economy. The developing countries such as India and Pakistan and some of the under developed countries in Africa have always been forced to compromise with the Western powers as the latter are economically strong.

The United States and earlier the United Kingdom dictated terms to the less fortunate countries. They, of course, manipulated the world’s natural resources to their benefit. Great Britain took away many of the natural resources from India and built its industries. The white supremacy prevailed.

Now the scenario is different. Even the Asian countries are asserting themselves and are trying their maximum best to make considerable contribution to the world economic growth.

What is Asian Factor?
China and India are emerging as strong contenders for economic power in the world economy. No doubt, their rapid population growth is hampering their growth, but they are making headway in many technological spheres.

Today, China is on its way to becoming a superpower in its own right. India is not far behind. The West has realized the potential of both the countries to contribute to the world economy. Unlike India, China is less influenced by the Western culture. It retains its distinct cultural ethos. Being a communist country, it is definitely at loggerheads with democratic nations such as USA.

Both China and India are taking advantage of the Western technological innovations and are not averse to receiving their technical know-how and expertise. But yet they do not want to be dictated terms to. They prefer to stand on their own feet and develop indigenous products which have the potential to sell abroad as well.

India always suffered from “brain drain”. Many of its technocrats go off to the West for greener pastures. Unless and until it strengthens its local technical infrastructure, it will lose out on talented people.

Will China and India prove better than the West?
It is difficult to say now whether China and India will beat US and other European countries at their game; nevertheless, the West sees both these countries as potential rivals. Both are making much progress economically. They need of course to control their population. In India wealth has to be distributed equitably as the gap between the rich and the poor is widening. It is difficult to tell what exactly is happening in China as it is a closed society. But in the future it will be force to reckon with in world politics.

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