"The Spring Of History"
Respectful Dedication To Every Student Of India And China
Every year, and for the last many years, and this year too, over 40% of economic growth will derive and emerge from China and India lovingly and respectfully, referred to as the New Super Power: "Chindia". And for anyone of us interested in the grand sweep, -nay- Claims of History, the idea of these two Nations emerging as the 21st century's dominant powers presents no surprises, whatsoever!!!
Two hundred years ago and a little more, they accounted for half of the world's GDP, that is twice as much as Western Europe and 25 times America's share. Exploitation, political incompetence and a total failure to engage with the outside world led to the decline of both these countries but that is now far far behind them --be it economics or environment. China and India, and for the years ahead, will be a global story of great interest. In a good year, say UK, its economy grows by 3%, and if and when it does, there is celebration all around.
It was 1978, that one of China's greatest and wise leaders Deng Xiaoping took power, and began executing his insights. Since long, this super leader understood just tool well that Capitalism had to flourish lest everything decays into the horrid void of History. Since, China's economy has unleashed all its talent and the economy started its growth climb by a stupendous over 9% a year.
On the other hand, India's renaissance began much later, around 1991, but has grown by an average of over 7% a year. Even 8% after 2003. This unique and simultaneous emergence of two-fast-track growing economies is absolutely unprecedented, and it is shifting the balancing of world economy into amazing tilts.
According to the investment Bank Goldman Sachs, by the middle of this century, China would be really and truly by far the biggest economy in the world followed by U.S. and India. In 2007 China was responsible for a chunk of growth than America; and India for more than Germany, France and Italy other than Euro member countries combined. But, but China-India effect pulls both ways! So don't miss the great posts that follow as we give you a 360 spin. Do share us forward all the way.
Good Night & God Bless.
SAM Daily Times - The Voice Of the Voiceless