Can India catch up with China?
The average Indian was slightly better off than the average Chinese in the initial years after Indian independence. “ China has outrun India in every area of economic endeavour in the last 35 years, except in computer software industry and agricultural research ” Few people in 1978 could have imagined the monumental economic progress that China would make because of the economic reforms pushed by Deng Xiaoping. China’s economic growth was also made possible by a very large net inflow of foreign direct investment, a sign of confidence in the Chinese economy by outside investors. Despite international border issues that still exist between India and China, the two countries are trying to create a cooperative relationship — China has become India’s largest trading partner in 2013, India’s trade deficit with China is about $38 billion, President Xi has offered $20 billion for investment in Indian infrastructure and other industries, and a 100-person delegation of Zhejiang province has signed MoUs with India totalling about $2.46 billion. China is better placed structurally than India for a good economic performance, but it is most likely to be much lower than its recent average performance of about 10 per cent a year.
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