Globalization and the rise of Asia (part 4) - Long-term gains likely for India
From MarketWatch: Globalization and the rise of Asia (part 4) - Long-term gains likely for India
"It is not unlikely that continuing population growth, and the development of a modern economy propelled by very advanced technology will push India's GDP past that of China, and well beyond that of the United States by the middle of the century."
"In many ways, India's prospects in the 21st century are superior to those of China. The institutional framework in the two countries could hardly stand in greater contrast.
India is a full-fledged democracy, with a parliament in New Delhi that is the equal to that in London or Ottawa. China remains a Communist state, under one-party governance.
India enjoys all the advantages for person and property provided by the British rule of law, again in stark contrast to China whose legal system is murky at best where both property and certainly person is concerned."
"Yet, as the Financial Times recently suggested in an article entitled "India's opportunities lost amid China obsession," coverage of investment opportunities in India is virtually non-existent in American business publications, which concentrate almost exclusively on touting Chinese financial products."