China’s unfounded potential?

Alpha couldn’t have asked this at a better time, “Lot of the countries are doing better than India and Thailand without being termed ‘Free‘” when she commented on yesterday’s post. I assume she was thinking of China when she said that. She may not believe me but I guess two other influential gentlemen might change her views. Gary Becker and Richard Posner lay down excellent points on why they think that China may not surpass the United States economically. Most of it lies in the fact that it still is a authoritarian state and thus vulnerable to political distress that may significantly impact the economy (for e.g. Iran and Soviet Union). However, Becker has a tiny reference to India’s chances.

“I am not saying that China will not become the leading economic nation, but rather that it is far too early to tell. The many failed predictions about Japan and other nations should make us modest about such long-term predictions. Perhaps India will become the leader-it has strengths (and weaknesses) that China lacks- or maybe Brazil if it can finally get its act together.” [via Becker-Posner Blog]

I hope he elaborates on that in the future, thus weakening Economists’ recent India-China comparisons.

Tweet This“China’s unfounded potential?” [Short URL: http://www.ipatrix.com/?p=614] was published Thursday, April 7th, 2005 at 2:00 am by Patrix, filed under Business, Current Affairs, India, and tagged as , , . Both comments and linkbacks are closed.

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  • Ram

    This is all so parochial. What does it matter if India or China becomes the next economic powerhouse. What is more important is that India focusses on itself and does all it can to improve itself. We should stop looking across borders and concentrate within ourselves. As an indian it gives me no pride if India is up on some economic league table if i haven’t been part of that prosperity. India has still far too many poor people and rich gap is growing. We are fracturing ourselves as a nation.

  • http://ipatrix.com Patrix

    Ram – As an indian it gives me no pride if India is up on some economic league table if i haven’t been part of that prosperity.: thats right, the nation hasn’t progressed until YOU have progressed. Gah!

  • http://ashishniti.blogspot.com/ Ashish

    Pope John Paul II put it rightly when he said: Socialism likewise maintains that the good of the individual can be realized without reference to his free choice, to the unique and exclusive responsibility which he exercises in the face of good or evil.

  • http://ipatrix.com Patrix

    Ashish – True.


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