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Monday, May 05, 2003

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China's growth

A sense of pessimism about India's economic growth pervades the article "Why China is the winner" (Business Line, May 2003), as if the winning post has already been fixed and China has coasted comfortably past it. That India is trailing behind as of now is obvious and it is right to say that it is "largely because of the political will (in China) to do better which is missing in India".

While China has succeeded in casting away its inherited burden of "socialism" fairly quickly, India continues to struggle with it. While China is demonstrably desperate to keep its economy growing quickly, India has not really shown that kind of urgency.

The Prime Minister, Mr Atal Bihari Vajpayee, aired the view sometime ago that he wants a growth rate of 8 per cent, but it is now being watered down to 6 per cent by the other players in Government.

Meanwhile China, in contrast, without much fanfare, reported a robust growth of 8 per cent last year.

Kangayam R. Rangaswamy

USA

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