India would catch up with its neighbour China in terms of economic growth by the turn of this decade, noted economist Pranab Bardhan said Friday.
Bardhan, a professor at the University of California, was delivering the third B.G. Kumar memorial lecture at the Centre for Development Studies here Friday evening.
'A potential advantage India has over China in speeding up its economic growth is the demographic shift in favour of young and able working population. This would put India in a higher growth trajectory and the country could catch up with the economic growth of China by 2020,' said Bardhan.
He also said that the world' two most populous economies would garner a lion's share of the world output and income, surpassing the now developed countries such as the US and Japan.
According to the current estimates, the combined size of India's and China's economy by the year 2025 would be 36 percent, he said.
He noted that more than the global environment, it was the domestic policy changes and initiatives that helped China achieve a higher growth trajectory.
China had transferred itself from a Communist economy to a household income-based economy. This has helped the country achieve a sort of relative income equality, improve standard of education as well as healthcare. This has gone a long way in helping China achieve higher economic and social development, he added.
'Another feature that spurred the overall growth in China is the key role played by the township and village industries under the control of local officials who enjoyed much autonomy. India should take a leaf out of this Chinese lesson to evolve a system of reward and punishment for the performers and laggards among the Indian bureaucracy,' said Bardhan.
Source:Yahoo News
Showing posts with label china. Show all posts
Showing posts with label china. Show all posts
Saturday, July 16, 2011
Wednesday, February 17, 2010
China boosts Militry exanditure this year:Report
China says it is increasing defense spending, this year, to raise the salaries of the world's largest standing army. The announcement Wednesday, came at a news conference to preview the annual legislative session, which begins Thursday.
Li Zhaoxing is the spokesman for China's parliament, the National People's Congress, not the spokesman for the Ministry of Defense.
But, in what has become a tradition in recent years, the NPC spokesman announced China's proposed military budget.
Li says the defense budget is included in the draft national budget that is submitted to the legislature for examination and approval.
Li says China's military spending in 2009 will increase nearly 15 percent, to $70 billion.
The spokesman describes the increase as "modest" and said the double-digit growth will not pose a threat to any other country. He says much of the extra money will go to salaries for China's more than two-million troops and be spent on raising capabilities in what he described as "non-warfare military operations."
Li also said the additional spending is needed to maintain China's sovereignty and territorial integrity.
China has maintained its threat to use military force against Taiwan, if Taipei declares formal independence. Beijing considers the separately-governed island a renegade province.
The spokesman says China's military expenditures are no secret. He says, since 2007, China has submitted annual military expense reports to the United Nations.
Li says there is no such thing as "hidden military expenditure" in China.
The United States, Japan and other countries have long expressed concern about China's military build-up.
In just concluded Sino-American military talks last week, U.S. Defense Department official David Sedney told reporters Washington sees nothing wrong with China modernizing its military. At the same time, he said the U.S. government just wants more clarity about the Chinese government's intentions.
Li Zhaoxing is the spokesman for China's parliament, the National People's Congress, not the spokesman for the Ministry of Defense.
But, in what has become a tradition in recent years, the NPC spokesman announced China's proposed military budget.
Li says the defense budget is included in the draft national budget that is submitted to the legislature for examination and approval.
Li says China's military spending in 2009 will increase nearly 15 percent, to $70 billion.
The spokesman describes the increase as "modest" and said the double-digit growth will not pose a threat to any other country. He says much of the extra money will go to salaries for China's more than two-million troops and be spent on raising capabilities in what he described as "non-warfare military operations."
Li also said the additional spending is needed to maintain China's sovereignty and territorial integrity.
China has maintained its threat to use military force against Taiwan, if Taipei declares formal independence. Beijing considers the separately-governed island a renegade province.
The spokesman says China's military expenditures are no secret. He says, since 2007, China has submitted annual military expense reports to the United Nations.
Li says there is no such thing as "hidden military expenditure" in China.
The United States, Japan and other countries have long expressed concern about China's military build-up.
In just concluded Sino-American military talks last week, U.S. Defense Department official David Sedney told reporters Washington sees nothing wrong with China modernizing its military. At the same time, he said the U.S. government just wants more clarity about the Chinese government's intentions.
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