Before you rush into anything let me clearly state that I did not make this prediction. It has come from Waseda University Prof. Eisuke Sakakibara. Mr. Sakakibara said in an interview with a Japanese newspaper that in the next decade India would surpass China as far as economic growth was concerned. You can read the interview in the website of The Daily Yomiuri. I am quoting from the website:
Of India's population (of 1 billion plus), 53% or 54% are 25 or younger," Sakakibara notes. "In other words, roughly one out of every four people worldwide in that age group is Indian." The economic output that this huge population bloc will generate in the next few decades as its members reach the prime of their lives, he adds, "will be simply enormous."
Yes, young workforce is perhaps the most vital factor behind the economic growth of a country and India has it a lot. However, what makes a bit skeptic about this prediction of Eisuke Sakakibara is the matter that illiteracy rate is still very high in India. Moreover, people living in the rural areas are far behind than highly educated professionals in large cities of India. However, Mr. Sakakibara feels that India has a sizable middle class population and they will be the main force behind Indian success. I am quoting from the same webpage again:
Well, I am not an economist and of course, I have no courage to challenge the prediction of someone like Mr. Sakakibara (better known as Mr. Yen). I just feel that severe economic disparity exists in India between the people living in the top ten cities and the people living in the rest of the country. This kind of imbalanced growth is always a recipe for social and political instability. If India can address this problem well then there is every possibility that India will overtake China in economic growth within a decade.
What is your idea about it?
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its possible, as India also has good human resources. Also India is consider as more "friendly" than China. China with their un democratic attitude will be their own flaw.
China also has their own economic problem like India, most of chinese is still living in poor, but dont get exposed by media.
Posted by: hedgehogman | May 18, 2006 12:19 AM | Permalink to Comment