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China, too, can learn from India

Updated: 2014-05-29 08:44
( China Daily)

Whenever you compare China and India in economic terms, India always loses because China rules in almost every department. But is it really true that China's economy is better than India's?

We can see the merits of India's economy if we don't focus on GDP. China's strict family planning policy means a larger aging population and smaller working-age population. So, in the long run India could overtake China as the manufacturing base because of its abundant labor force.

Most of the industries that have made China the "world's factory" are not even Chinese. For example, although China is the largest electronics exporter in the world, it gets only 4 percent of the profit share because "over 90 percent of China's high-technology exports are actually by foreign - not Chinese - firms". On the other hand, India's domestic pharmaceutical industry supplies up to 40 percent of US drugs.

Indians have embraced English as a language of business despite having their distinct languages and cultures, and The Economist says their negotiation skills are superior and more desirable on the world stage.

MUTAFIRE, from China Daily blog

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