Have you guys consider the possibility that China went to India in 2006~2008 to learn what NOT to do ? In the real world, negative examples can frequently be more useful than positive examples.
Indian Economics thread.
- Thread starter styx
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There are two major reasons why. First, India has poor human capital. Indian immigrants to the West are the creme de la creme. When India participated in PISA, they ranked second last to bottom.
Second, India's economic structure is not a "condition". It's a choice. For whatever reason, India's economic strategy has been to focus on high-skill exports. IT services and pharma are the classic examples but as Arvind Subramanian has shown, even in manufacturing, Indian exports tend to be skill-intensive and capital-intensive. In other words, the hallmarks of a developed country. India has lots of unskilled labour, yet all its strategies are aimed at the high-end. Even the latest semiconductor push is similar. Assuming it succeed (and I am somewhat skeptical) then it would not have created many jobs as making chips is not very labour-intensive and the jobs available are mostly high-skilled.
There are good reasons why India cannot afford to turn down cheap Russian energy, in spite of pressure from the Western countries.
That's a lot of fancy words to say " just average".
Just curious, how is their situation different form China's blackout and energy crisis in 2021?
China fixed it after a few weeks and made sure it wouldn't happen again.
With India, they had an electricity crisis in October 2021, then March 2022, and now another one in May 2022.
Like I’ve said before they should go hydro and it will benefit not only industrial power use but agriculture as well.
Lethe
Captain
China is the gold standard. It would be more meaningful to compare India's GDP relative to the USA or UK over time.
Difference is that China had an energy crisis not because of lack of coal, but environmental regulations that prevented local coal from being extracted and used. You don't see it happening now do you?
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