Thanks. I have been looking for this Charlie Munger speech after I've heard it quoted in some podcast. Unfortunately for India. Charlie Munger's dire assessment for India is still too simplified. India's problems are much deeper, and are starting to manifest even more these days. Breakdown of law and order, widespread unrepentant depravity, Hindutva fanaticism, rejection of science in favour of religion and superstition, Supapowar delusions, megalomaniacal leaders, rich worshipping, power worshipping, white worshipping, widespread stupidity, more talk than doing, lack of ability to get major works done, and so many other ills of the third world.
This is the inconvenient truth about India. While there are ancient civilizations scattered all around South Asia, there never existed the nation of India prior to British colonialization. Because of this, India is suffering from an identity crisis, because it compares itself with the imperial powers of the West, and the great East Asian nations of the East. India's understanding of its current territories only goes back to the British Raj, but its understanding of its own past is based on a confused mess of old civilizations that had inhabited its lands. The RSS, BJP, and Hindutvas took this to another level and created fictional myths of a glorious Hindu Empire in the past. Justifying India as the modern version of that Hindu Empire, and creating the Akhand Bharat map to lay claim over other territories.
From a practical point of view, India is far from a united nation. Each regions have their own distinct cultures, religion, and languages. Many are in an uneasy union with the leadership in Northern India. While others actually want to breakaway, but haven't been able to. There is no national language in India, despite Hindi being spoken and promoted by the ruling elites. Even when Hindi is being taught in schools, many ethnic groups have refused to pick up the language. Without a common language, its a miracle that India still held together all these times. So I'm sure that it was English who was the defacto official language of India. This in essence, makes India a post-colonial state, and not a true civilizational state. Therefore, this busts the myth that India itself is a civilizational state akin to China. With fractious unity like this, India could never move forward with the speed of China, South Korea, or Japan.
Some might argue that Singapore too was a post-colonial construct. Indeed it was, and Lee Kuan Yew was wise enough to accept that. He ran Singapore as the post-colonial island nation that it is, full-stop. He had never dwelled on creating any "glorious past". Instead he wanted to move forward and create great a glorious future for Singapore. LKY was practical, he united the various races in Singapore using English as the national language, and had no race-based policymaking. He was a no-nonsense type of guy. No ethnic group or religion is above the law. Muslim extremism was outlawed, unethical Chinese superstitions were banned, and scandalous Christian churches were shutdown. LKY doesn't accept stupidity and uncivilized behavior. People who pissed in elevators were punished by the law. Politicians who challenged him just for the sake of unseating him are sued and barred from running. Were there flaws? Of course there was. But the overall result is LKY led Singapore to become the first-world island nation that we all know today.
Malaysia, the country that ejected Singapore out was constantly dwelling in the past. Creating myths and legends about its glorious past of Malay Muslim supremacy. Trying to justify why the Malay Muslims were so glorious before the British and the immigrants came. The result is obvious, Malaysia stayed a third world nation, with a large Malay Muslim population who feel entitled. Even when Malaysia is blessed with a good leader like PM Anwar Ibrahim, the nation is just too broken for him to fix in only 1 term. Its a 20 year job to fix, but the deluded and entitled Malay Muslims will vote him out in the next election for more of the same old racist leaders who had kept the nation behind. The hard truth is that at least 70% of the Malaysian economy is held up by Oil and the Malaysian Chinese. Without the Malaysian Chinese, the nation would drop down to the development levels of rural Indonesia. There are many parallels between Malaysia and India. That is why I'm fairly confident that India is never gonna catch up to the development levels of any of the East Asian great economies, let alone China. If I'm a betting man, I would put my bet on Vietnam to become next economic miracle in Asia, not India.