India & China - By Dr. Derek Scissors
Today I got the opportunity of listening to the views of Dr. Derek Scissors with respect to India and China. He put forward his varied observations with respect to the topic. One of the questions put forward by him - "Why would China, with a generation of successful market reform under its belt, move back toward state control ?" Possibly - "Obsession to growth at the expense of all else". This growth today is explicitly led by the state, fueled by investment by state-owned entities, and accompanied by powerful regulatory steps meant to ensure the state's dominance of the economy - all measures that contrast sharply with prior reforms. According to him, if India wants to catch up with China, two areas need to be given high priority:- Education for all up to Secondary level Complete right to farmers He further added that now-a-days India has got too much obsessed with two digit GDP growth. Instead, focus should be on controlling inflation, combating naxali...