Interesting analysis. However, you missed two important differences. One, India net exported engineers, software engineers in particular, to the West. Brain drain? Second, the carry traders in the US took the billions that the FED in the US made available thru their quantitative easing (QE1,QE2, etc) program and moved it off shore buying Chinese bonds that were not selling well because there wasn't enough world wide demand by foreign investors in the private sector at the time. This also explains why the QEs didn't add a lot of inflationary pressure to the US economy. The carry traders moved most of it off shore flooding the Chinese economy with US dollars. Billions with each QE. This also explains the growth of the Chinese real estate sector bubble as Chinese banks struggled to find places to loan the bond money out. This was one of the better analyses that I've seen. Keep up the good work.
Oh, by the way, the net export of H1b engineers to the US flooded the market suppressing wages in the US. That in turn displaced American engineers. Many of which left or telecommuted to China causing a brain drain here in the US at the time.
About 15 years ago, I started a company in Xi’an, China. All the paperwork took about 3 hours. The local government even assigned a clerk to walk through the whole process. 3 hours later, I had the license, bank account, and office lease agreement. And the local government even ordered a company name plate as a gift.
@@enriquemino9963 3 Hours is way too quick. That’s just dangerous. Leaves the process vulnerable to fraud, corruption and tons of new small companies selling unsafe products because they haven’t been vetted properly
This so true. Cuz Indian talents once gone overseas would NOT return to invest back in their own country. Cuz they know they do not get the pay and quality of life that they experience overseas. As compared to China's returning talents that builds China and is largely nationalistic too.
Nxt factory of the world for sure! History will repeat again! most richest persons and cities in the world will be indian in the year 2030! if you laugh in my comment then you are fool because you have to wait until 2030!
Have you been in China at a "local level"? Buddy, ask this reporter about the dangling real estate crisis that Xi is nursing. China and India are different. Xi will go if the unemployment explodes. Westerners and media have no brains nor do they have conscience. This is crap
Right, you are an Indian from India who speaks perfect English, who spent his entire life in India, but it took this video for you to realize what is going on. Mu ha ha ha ha. Either you are so daft that your opinion should be disregarded anyways, or this video is propaganda from a scared CCP and you are on their payroll. Frankly, I think it is all of the above.
@@Dreadwolf3155 A difference of Few millions is not huge demographic advantage. India surely has a younger population but this becomes irrelevant when you see the conditions of the education that we give them. There are paper leaks in entrance exams and university syllabus is out dated, where students in eu and us are studying AI Machine Learning and Data science India students are thought regarding technology that are not in use or knowledge that isn't demanded by job industry, causing a huge unemployment causing students to look towards getting stable secure jobs in the government. Our healthcare system is even worse.
my city in Shandong china, if you have any complain about the city, road, environment ect. you just need to call the mayor hotline, tell your requirement, there will be related administration bearu contact you within 24 hours, and the driect person in charge will be on line with you, to discuss your requirement and how they can slove it. After sometimes, if the problem sloved, then later the mayor hotline will call you back to ask if you are satisfied with the result or not. Everyone in our city can help to improve the image of city, this is just one of the advantage I want to talk about.
@@ihmpall I haven't been to many cities in India, but the Jaipur is the one city that impressed me compared to other cities in India, it has clean road and nice air to breath. I like that city a lot.
@@lihaiyang1120 I am Australian but if you compare today's India to 2007's China which had a similar GDP as that of today's India is very different. If you see the videos of Chinese cities in 2007 is very advanced as compared to today's India. Even China was able to host the Olympics in 2008. You should look into that and think about how big is the corruption still happening in India.
@@REALITY-bq7bp Difference is that the ratio of national owned enterprise and private company of these two countries. Foreign direct invesment comes to Chinese national owned company, but the invensment to India goes to personal account. Every country has corruption it's just in one way or another, but on the national level like China, the foreign invesment can be placed in a better way.
First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside.
I started an amazon business in Canada so I had to go to China to source the products. I booked a flight to shenzhen for a week. But I was done after the 2nd day. Efficiency there is like no other. ?You want something done and its already waiting for you.
@@srdshukla4it’s because we have no openly visible tracking system of anything in public domain. Also, govt job people mindset of not doing work. Don’t worry time is changing for India 😅
India is so proud of its "democracy" but at the same time, it fails to realize that the populist usually doesn't make the right decisions. It makes a decision that appease the voters by disregarding if it's correct or not in the long term. What generally follow is people who have votes usually want more shares and the "leading candidate" would have to compromise. Imagine compromising over and over, decades after decades, parties after parties with different people at the top. It's like many writers trying to continue the already existing storyline of an anime. Every person (or party) would have different preferences of how the story should be done. When it's said and done, it would be very different from what each person wants in the beginning. To make it worse, in most cases, the candidate usually being picked by rich people or corporations that have profit motive......
We don't have democracy we have elected kings that tend to be populist. Democracy can work without a paternalistic government. I.e. most Western European democracies.
china is a dictatorship where one man or a group can impose their will on a population of slaves.. this dictatorship led china to rapid growth in the last few decades.. but the days of rapid growth for china are over.. china will have slow growth from now on.. the ccp used the chinese population as slave labor to make export goods for the west.. all the money & technology came from the west to build these goods.. before that the chinese couldn't even build a decent bicycle.. western capitalists & chinese elite got rich by this model.. the relatives of xi jinping & all ccp elite live in the west.. the ccp has billions in assets stashed away in the west as well.. so the west has enormous leverage over china as all chinese elite are essentially puppets of the west.. look at the plight of common chinese today where the stock market is crashing, the real estate is collapsing & unemployment is rampant & rising.. the chinese dictatorships 1 child policy plus the rapid aging of chinese society ensure the days of rapid economic growth are over.. the chinese are getting too old to be used for slave labor.. the chinese dictatorship used an extreme growth model where the ccp elite got rich but the chinese masses are suffering & caught in a middle income trap from which they could easily fall back into 3rd world poverty..
I have a friend who has a factory in Vietnam, they're almost as similar to China in business climate, there are corruption but not as much as other countries in south east asia. The working culture is also not as nuts like china.
@@AnkhArcRod Thanks to the pookies adani and ambani while the rest of the indians remain poor as shit. Check the wealth inequality difference btw china and India.
Few observations about this video and the comments:- 1. This is CCP sponsored video to ONLY denigrate India as a place where only wrong is present. 2. Most commenters are Chinese/ Taiwanese nationals or immigrants- again mostly on CCP paycheck. Few commentors pretend "As an India, I also agree... I also hate my country..." again most of these are Chinese or other foreign nationals who have no other benefit trashing India other than being paid. 3. Within a couple days of video, far more views and comments, All OF THEM EXTREMELY NEGATIVE. Why would Non Indians benefit from downgrading India, even if they DO NOT LIVE there ? 4. Timing is just when there are attacks by Pakistan sponsored terrorism and cross border violations by pakistan army (again Chinese link). 5. Title is misleading. Which economists? What are their credentials ? Rajan and Devesh are known Soros agents and all of their predictions went wrong. They have only mocked the poor of nation and even wished for their eradication. With money you can sponsor any bullshit crap video, pass it off as study and a reality. Expect more such Anti India, anti Indian anti incumbent govt videos which give an exaggerated and distorted 1-SIDED VIEW ONLY. Because that is in Chinese interests. This channel itself will churn out many videos in the weeks to come. I BET YOU, JUST WATCH OUT !
Those 2 areas you also cannot beat China in. China is probably the world leader in corruption, so much they even developed it as an export industry and yes indeed the politicians there run the largest organised crime syndicates, which they have also developed into an export industry.
@@rak24ron Why is my country not like this? It is very efficient and will catch corrupt people. There are corrupt people in your country too, why don't you crack down on them? And it is efficient only if you pay them. This is very wrong. Not every country is like India. Yours has been rotten since the beginning of the rulers.
Hey bud I’ve been watching you over a year now- always highly informative. I’m an Indian and it’s fascinating how well you’ve captured what we instinctively have felt for a while
He forgot one key detail that while Chinese mainlanders are known to be rude and unhygienic themselves, nothing beats India when it comes to their rivers and rape.
Actually if you look just at West India (Gujarat and Maharashtra) or South India (Madrasis) those regions growth have surpassed Chinas equivalent growth rate at the similar period. It’s only due to East India and the glut of North India particularly cowbelt that India lags behind China
@@debodatta7398 That isn't news. That's been the case since independence, and frankly even before independence. The so-called BIMARU states even literally have an acronym for themselves that encapsulates that.
If India was less arrogant, it could work with China instead of against China out of jealousy. Modi rejected BYD investment into India last year. Now BYD has invested in Europe instead 🤦🏻♂️
@@vervetech9395 So we should lose our people to China? It already illegally administraters a part of India and claims a whole state. We'd rather be poor than betray our people for money.
The late Lee Kuan Yew, founder of Singapore, said democracy would only bring regression, not progression. I fully agree with him. The success of the western nations was not because of democracy, but of other factors like education, etc.
The success of Western countries is not due to democracy, but to excellent limited liability company systems and market competition mechanisms. Democracy doesn't make cakes, democracy is responsible for dividing the cake. But it's not just Western style democracy that can divide the cake well
The successes of the West are directly related to colonial plunder of resources and cheap labour these past 5 centuries. This now coming to an end, the ownership classes in the West are turning on their own populations in desperation as the rest of the World is now far better equipped to deny the exploiter their easy gains/profits. The current period of instability and chaos will definitively end once the US $ is put in its place and not permitted to bludgeon (sanctions) the World into accepting corporate plunder, the power of the US military already showing it decline and not able to contain all of the cou tries wanting to escape the Western domination.
I think one other important factor you failed to mention in detail is how in China the party members are selected based on academic and economic performance measures. Basically, highly intelligent people with distinguished degrees and governance track records permeate the party.
in some ways, china never changed. it was the same in ancient china when people took the imperial exams to find the best government officials. obviously it was an objective metric which tried to put the best candidate for the job. and they all worked under one emperor who held absolute power.
.........Real Socialist country North Korea is much better than India now.... North Korea is better than USA and Europe in education now...North Korea literacy rate 100%, America literacy rate 96% only and India literacy rate 78% only...
Having been involved with China since 1992 , (we built more than 100 big ships and repaired more than 500 ships all over, and having been involved with the groth of the popular marathon movement) I had the opportunity to witnes the growth of China, and having visited key cities in India several times for business during the same time, yes I absolutely agree. The Chinese miracle can not be copied or dublicated by any other country. Culture, education, way of thingking and finally the "socialism Chinese style" of the governing sysyem is what has made China what it is today. Full stop.
@@peliculiar definitely not via the culture but in the way there is no private property and its a very centrally planned economy that revolves around the government.
@@porcelaincrown CCP owns everything but CCP ≠ China. There is an unheathy competiton among their citizens, low trust society, scams everywhere you look at. When I imagine socialism, I imagine equality among people and safety nets for the ones in problems. There is nothing like that in China, even USA is more socialistic than China in this regard.
@@peliculiar which way? everyway, like government is communist, house's land is owned by government, public sector economy is 30%, CCP will interfere with the economic structure, top rich can't control Chinese politics, but there's only one thing that China isn't so socialist, China embrace free trade, market economy and globalization, so China is Soviet+Japan mixed sociaty.
Let me tell you the secret of the success in China: 1. the entire country works as a giant corporation. Xi is the president, premier Li is the CEO and the ministers are CxO's. Each province is a branch. The communist party is the HR system. 2. For thousands years, the mainstream ideology is a philosophy - Confucianism, Chinese always pay a lot of attention to the education, and work very hard, very discipline.
The ideology of Communism -- of paying those who do the actual hard work MORE than anyone trying to profit off them such as managers or executives - was ALSO a big positive for China's economy.
@chenmacro "Let me tell you [...] work very hard, very discipline." =========================================== ON THE OTHER HAND, innumerable Indians want to: 1. IMAGINE that their culture (i.e. Hindu culture, SO-CALLED Sanatana Dharmist culture) has been the ONLY 'advanced culture' noble, ethical culture, 2. IMAGINE that all other people around the world have been either dullards and/or unethical crooks, 3. keep squabbling over irrelevant things like religion and caste (SO-CALLED Jati, SO-CALLED Varna system). 4. keep playing the victim-card. *This problem has become much more severe since 26 May 2014 C.E., and continues to be so as on 11 July 2024 C.E.*
Buddy, compounding interest is very powerful. Yes, initially, the higher economy will grow more raw figure wise, but it won't take long for the smaller economy to overtake the larger if it grows consistently at 7%, while the larger grows at 4%. Model it on a spreadsheet and you'll see.
@@MountainPork22 I just did the modeling on a spreadsheet, with China at a 4% growth rate and India at a 7% growth rate and the USA at a 6% growth rate. As it stands today, it would take India around 75 years to even come close to China.
@@CombatHD3 Assuming China's GDP is actually real and sustainable. With increasing evidence to the contrary, such as the constant power cuts and the increasingly creaky infrastructure and its serious social problems, I doubt the GDP numbers are correct.
@CombatHD3 75 years in human history is nothing. Also, I believe a few years after it would overtake the country that started off 5 times larger. China took about that time to get where they are now from 1950s and most people wouldn't argue the growth was miraculous. The original commenter said the gap would still widen, I am saying that is not true. Gap will close, growth rate is king, not where you start.
IMO as a lay person. India GDP 3.4 Trillion. IF India grows @ 10% for 10 years India GDP = 8.8 Trillion in 2035 China GDP 18 Trillion. If China grows @5% for 10 years China GDP = 29 Trillion in 2035. If China grows @10% China GDP = 46 Trillion 2035 Now matter how you look at it the tangent is growing apart. When you enter China it is like entering the 22nd century. The airports, trains, stations, malls etc are simply awesome India must focus on eradicating corruption. Too much bribes changing hands, resulting in poor quality engineering and building materials resulting in poor infrastructure, poor roads bridges, flyovers, stations and airports, sewage, poor drinking water, unreliable electricity. HNI Indians are the highest number fleeing the country, taking billions with them.
There are also loads of social issues plaguing India like cronyism and how Indian government officials have a extremely strong tribalism mindset thus why corruption is so rife within Indian society at large.
Chinese HNIs are also running in huge numbers you can check. The govt there is biggest don collecting money from rich and controlling them. However they are helping the poor.
First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside. Economics of a country is very complex subject and it involves lots of complexities, and the main component to judge the economy of a country is to see the middle class population and the ability of governments to complete there tenure.
In India people who are incapable of running grocery shop into profits are getting elected into governing positions and are incharge of huge provinces! How would anyone expect that those provinces would actually grow!
Businesspeople tend to make for very poor politicians on average due to the starkly differing incentive structures, so this isn't really a fair comparison. What's more important in general is for elected officials to understand and capitalize on the value of long-term investments that take years to pay off rather than immediate, targeted payoffs and for the population to understand the value of the same. That requires broad scale education in civics and economics, something which is difficult to come by in a developing economy, which means that officials often have to take a leap of faith that the long-term benefits will help their chances of staying in office and outweigh short-term opportunity costs.
His video is based on books by two people. This isn't gospel truth or what will happen for sure. These are the same people who were predicting China to become a super power, championing it a few years ago while its cities were (and still are) crumbling, people are eating sewer oil and begging companies to not leave China on their knees. India's growth is already happening, which is why even the market was backing Modi (I am a centrist so I didn't even vote for any party tbh). This video basically talks about past and not the current. No one can predict the future.
@@desmasicbro can you get a reality check? Nobody is eating sewer oil in China. That’s a false incident in China that was blown out of proportion by western media. Oil taken from recycle was for refinery for biofuel and other products. You just can’t get past your hate about the success of China. Meanwhile in India 60-80% of the population still shit on the streets
Seemed many foreign scholars and analysts failed to highlight the critical success factor in China development miracle in the last 30 over years is the good and stable central government which orchestrated the country STEM education, HRM development, attracting FDI, industrialization road map, financial policies and ensure the execution at the local governments. China is able to overcome various hurdles in the execution of their program e.g. the land is essentially public owned. So, the land required for development would be easily accessible and the stakeholders are informed and relocated if necessary.
Well if they did as you said, it’d be like acknowledging the merit of the political system of China, which will go against their narrative of universal value…
That's because if those scholars bullet point the true secret sauce of China's success, they will be labelled as pro-CCP, thus cast out off the academic circle.😂
Even the educated Indians have no class. Money can't buy class. Moment those so called rich and educated Indians speak, one knows their class. Behaviour wise Indian are not Asian but something else and that is Indian.
Exactly. I am studying to leave this socialist nightmare in order to move to Middle east or Europe. I am glad we have private education to get us jobs elsewhere, and airports that facilitates leaving this socialist wasteland asap. My motivation to study is to get lost from this nation. Some emotional fools will say "Why don't you fix this nation instead" for them I'll say we been doing that for 75 since independence and yet failed to, i can bring no change and atleast I'm honest
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
Melissa Jean Talingdan is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Way back in 2016, I decided to visit India after hearing the hype and how they're leading in technology and are culturally diverse. Even seen some pics online. I was shocked to see the amount of dust and pollution the country had. The traffic, the honking, the overcrowded streets, I saw cows on the road. It was fun to see but whatever I read online about India being a booming economy, didnt reflect what I saw. The people and the food were nice though.
@@jimmorrison903Was the hygiene as bad as some have told me? Like I heard naked kids will be taking dumps in the street. Drunk people too. Tossing buckets in alley ways. Also don't go to India without men if you're a beautiful woman/women is what I was told.
2016 india and 2024 India looks completely different... I also didn't believe the changes we have made in such short period could have been this drastic....
You missed out the Chinese Diaspora. est,60-80million Hong Kong, Singapore, Taiwan, and Asian tigers in the 80s. Some of the biggest private enterprises in China at the early growth period were Diaspora owned. They bought in ready-made experience in factory operations, financing/accounting, management expertise without language and cultural obstacles when she was still transitioning from a marxist economy. Most are now overtaken/outcompeted by mainland China enterprises, but some still exists. egs Foxconn.
Totally agree. In the 1980s, Hong Kong was the vehicle for China’s growth. Hong Kong was the middleman facilitating between inexperienced China and foreign investors.
Overseas Chinese were a very important source of foreign direct investment during the early reform years when western firms were still reluctant to invest in mainland China. Shelley Rigger wrote a book specifically on the role of Taiwanese entrepreneurs in connecting the mainland to overseas capital, technology and supply chains. [Rigger, S. (2021). The Tiger Leading the Dragon: How Taiwan Propelled China's Economic Rise] This happened at an opportune time as FDI flows for manufacturing were moving away from the increasingly more costly East Asian economies (Japan, Taiwan) and towards Southeast Asia. The Chinese economy was able to capture these flows and become the main recipient.
The actual solution: Socialist revolution (Marxism-Leninism). Indian and Western "experts" and "academics": NO WE NEED TO JUSTIFY OUR CAPITALIST SYSTEM AND LIBERAL DEMOCRACY, LET'S BLAME MUSLIMS AND CULTURE! What made China big: A socialist constitution. A communist vanguard party. A meritocratic political system that puts competent people in charge. Ensuring that leadership has a lot of scientists. True democracy where most politicians come from the working class. Survey-based politics. Strong central planning. Focus on education and infrastructure. Non of which would have been possible without communist revolution and the removal of the bourgeois class from leadership positions. The funniest part is that the guy in the video never even asked Chinese economists how they did it. Instead, he asked other Indian/Western capitalists. And that's why India (or the West) will never emulate China's growth story (which happened thanks to COMMUNISM) - they don't try and learn from China. These "experts" go to great lengths to describe what China achieved: Better education, better infrastructure, etc. but never bother to try and understand what made it all possible (communist leadership). Another funny part is the Western understanding of history here: "China liberalized its economy". No. Socialist countries always have free economies. What happened is that China tricked the US into allowing it to join the WTO which meant it was finally allowed to trade on the international market. It isn't China that liberalized... it was the imperialist world that liberalized. Turns out that when socialist economies are allowed to compete freely with capitalist economies... socialist economies always win. That was Deng's genius: Making Westerners believe that they were liberalizing while really maintaining tight control over everything. By the way: "Attracting FDI" is a ridiculous lie trying to promote the idea that countries must allow foreign countries to buy up their industries and resources - FDI only makes up something like 1% of the Chinese economy. China also only allows foreigners to invest into some publicly listed companies... and when you invest in Chinese companies you get zero rights to the companies, no voting rights whatsoever, it's just a profit sharing scheme. FDI is mostly a diplomatic tool.
Then why isn't Indian diaspora helping India out of poverty and mediocrity. If we imported even one million Indians who have settled abroad like in US, UK, Canada etc will they be able to turn around the India story into a miraculous one?
That's not really a valid point because you are assuming India doesn't have a knowledgeable diaspora. The fact is BOTH sides have approximately equal knowledgeable diasporas. So the net effect for this comparison is .... ZERO.
As an Indian who has been following/analyzing Indian & global economics for years, I would say this was the least partial, most accurate analysis of Indian economics I've seen in a long while. Great video as always, kudos!
its accurate but not correct, in my opinion after 2035 india will also see industrialization at massive scale, as any country growth rate is solely dependent on the middle class of that country as in china's case this middle class is now has a stable population and not increasing, but in india's case its middle class population is increasing continuously soo by my prediction by 2035 or 2040 india will also have a substantial amount of middle class people like china had in 2000's and then india will also see a china type growth rate
As a Chinese, I’ve met a lot of Indians when studying in the Uk, and I love them, they are all good people. Indian food is my top 3 cuisines, the others being Persian and Italian (i don’t really like Chinese food even as a Chinese native) So It really confuses me when I see how their country really is. It’s mind boggling. Maybe it’s the caste system being too rigid?
Your people are disciplined,hard working I'm teenage boy if I ever get chance I will surely like to visit your country china once Good wishes from PUNJAB,INDIA
I have the utmost respect for China and Chinese people and I hope that China becomes the preeminent superpower this century. I say this as someone with parents from India who was raised in the USA. Some of my best friends are Han Chinese Americans.
It's the quota & reservation system, freebies culture that alienate the talented people and force them to leave for abroad. While the incompetent ones reside here and enjoy the butter.
Casteism , I wouldnt say has disappeared but is surely fading these days . Its more about classism these days . Indians lack civic sense , the development is concentrated only in megacities causing in over migration to only a particular cities ex. Mumbai . Bureaucracy and Judiciary and slow af . Anything to be built takes like years to complete all the paperwork. Politicians arent there to prosper the country , they are there to fill their own pockets . Thatsssss the rant
I have worked with India and China and forget India coming close to China before several generations if ever. Nobody in the office wanted to work with India and certainly not go there. They never respected contracts, were always renegociating. I think the chinese are much cleverer.
My contractor was an indian company. Many equipment purchased from india broke down after less than 1 year or got stucked at the port for many months. i also find a serious lack of business etiquette/professionalism such as contracts were not honored, poor planning & execution, under designed engineering either on purpose or to cut cost in order to claim variation order later and a lot of over promise (talk to much, delivers too little ). I would prefer a western, korean or japanese company anytime although the cost might be higher, the confidence are there. I have limited dealings with the chinese on contracts except for a few equipment purchase. Not the best quality i have to admit but it still works after 4 years and much cheaper. If i need high quality equipment, i will go with the west/japan/korea and if i want an equipment to just do its job with a cost in mind, i don't mind chinese equipment. i believed facts speak for itself as you can hardly find any big local indian companies having global presence perhaps the only exception is TATA. Even smart and highly educated indians dont want to deal with local indian contractors.
@@Aurica34 yupp, that's why usa has that much indians, well i say indians are talented but the problem is it dont have appropriate money to deal with its internal problems
Indian politicians always strike me as uneducated, narrow minded and religious zealots. Some of them even looked thuggish. Coming from Indonesia, I always think that there are a lot of similarities between India and Indonesia. Indonesia is like the mini version of India. Whatever good or bad in Indonesia, you just need to multiply it by 10, and you get India. Here in Indonesia, some of those politicians are nothing but gangsters who were recruited into politics because they can mobilize mobs. A bit about democracy, I have an opinion that it was not democracy that brought prosperity to today developed world, instead democracy is the byproduct of the prosperity that they achieved. Before talking about democracy, you need to get rich first. I remember that I once saw a picture of a little boy working in American coal mine in the early 1900s. Then you have slavery before that. So the US didn't get to where they are today simply by democracy and human right. The same with the Brits. There were a lot of sacrifice to be made before those nations can become rich and start to care about democracy and human right. Even Japan, South Korea and Taiwan started out as dictatorship. So I always find it rich that those rich nations lecturing developing countries about the democracy.
The most important point was not said: Bribes & corruption. If you are operating a business or even a shop in India you have to pay bribes & protection money to local ,state,& fed level government + bureaucrats + local goons(extension of political parties) + local police. This is the single biggest problem. If you are Indian you know, if you're not you'll never understand.
@@carolusmagnus1472what "pajeet frustration"? How would you feel when someone mispronounced some place in your country? And what frustration? He's pointing it out and the video maker acknowledged it What's so funny about it
Back then, China was the front runner in the FDI race due to the advantages it had (education, policies, population, etc). Today, India has to compete in a very competitive field against other countries, especially those in Southeast Asia for FDI.
I agree. Southeast Asia is India’s true competitor at the moment, not China. Especially since Southeast Asia is heavily plugged into Chinese supply chains, which make them the natural choice for many manufacturers.
@@diesirae7102 The only country in SEA that could rival India in manpower concentration is Indonesia and they are hamstrung by terrible geography (in a supply chain sense - all the islands don't help). Vietnam has clearly been ahead of India in realizing potential in manufacturing but thats because it got its act together first - India's potential is still bigger. India is a competitor to China both from the low and high end in the sense that they have the potential to take away manufacturing jobs due to lower labor costs, but argueably they have been more successful in taking away the service-sector jobs that China truly needs to escape the middle-income trap. Lower costs (Bengaluru is a shitload cheaper than Shenzhen), better English proficiency, and (for tech) less of a need to silo off operations given recent laws in China, this is before the recent geopolitical instabilites that make China less favorable.
@@MattY-ed1ep Invalid comparison. India does not have the centralized system that makes investing in a single country advantageous over a multi-country bloc. Getting approval in Delhi, to manufacturing in Assam, to programming in Tamil Nadu, to marketing in Maharastra is no different than doing all of that in four different nations. Those states all have different rules, different languages, and to top it all off, different politicians you have to bribe. India isn't competing against any specific SEA nation. It's competing against ASEAN as a whole. Investing in "India" isn't investing in a single nation, but a collection of 27 states (and 8 union territories). And if I'm a FDI, ASEAN is far more attractive as a destination than India.
@@MattY-ed1epIndia hasn't been China's competitor for a long time. Indians like to see themselves as such but hardly anyone in the world sees that. China outsource its cheap manufacturing because wages have increased significantly and it's not a place for cheap manufacturing anymore hence why the shift to SEA.
Great analysis. As a indian my view is the culture. Culturally not inclined to give importance to quality education which leads to electing wrong politicians which leads to failed system in a bigger scale.
Take a look at the record of Chinese performance in the Physics olympiads. A yearly international competition of high school scholars. They have by far, attained the most gold medals in the history of the competition. In second place is Iran. The Chinese are in a league of their own.
but its' all ancient Indian technology our ancestors discovered gravity when they pooping out in the field. that was before the Newton apple. our ancient technology like rocketum, vimana. India is the best country saar.
Are doctors also human ? One of my friend was doctor later he cleared some government exam and now he's a postmortem Expert and believe he often ask me crazy questions like what is life ? 🤔
The biggest flaw of a lot of Western liberal democracies is that it can be hijacked by money. Just like the video said, they're afraid to raise taxes, because that would upset the rich. People vote for their own self interest, and not for society's best interest.
On the opposite side, CCP is hijacked by Xi's self ambition and not the people's best interest. People's livelihood starts to feel the impacts and the country's economy is falling apart.
especially when the population are poorly educated and live hand to mouth in destitution. corrupted politicians will always lie and bribe their way to power, after that, they are literally untouchable by the law.
I am Chinese, and we often discuss the differences between India and China. Basically, the key word always falls on whether there has been a thorough land reform. Landowners in India have cut national land into countless small pieces that cannot be developed as a whole. This has resulted in the loss of basic guarantees for all power and economic operations. China also has corruption, but usually the problem can be solved quickly if you deal with the big boss. In India, power is too decentralized, and corruption increases exponentially, making it difficult to solve actual problems.
I don't think power is too much decentralised in India.Instead it is too much decentralised in China. Government expenditure at local level is more in China than India. I think main problem in India is about mindset of people. India is family oriented country.So whatever an Individual does in India he does it to his family.He do corruption so that his family can live happily. But in countries like China people are more individualistic.
@@shrihari6860 absolutely stupid reply, taking bribes for family. Bribe is a part of our culture and is a problem. But actual issue is mediocre mindset of our people. We want to earn sitting at our homes, politicians knows that and earn vote theough this. Hence no development.
@@AnkitKumar-ww7tc yess people wasting 16 lakhs in btech and when they go to market they found no job available for them and doing rikshaw then come to delhi let me show u some phd holders
I am studying economics at university. I used to think it was boring but for whatever reason I now find it really interesting. I guess that’s what happens when you become an adult. Anyway, your videos are so informative and interesting. I hope I can be as knowledgeable as you one day.
What I failed to understand about finance as a kid was that it is the symptom of human stories. Numbers alone are rarely all that interesting. But when numbers tell stories.... That's pretty cool.
I like the explanation how the puzzle comes together, why some country take a certain action, why a certain trade deal affect the population, and more importantly explain why a certain decision out there far away will impact my personal life and future or shape my past. Life aren't just random waves up and down hitting me, it happens because there's a stone dropped in the past and it's wave hit me just now.
@@CaedenV Yeah once you are able to detect the narrative in every number: a story of policy, psychosocial dynamics, power, greed, conspiracy...it becomes alot more interesting. The dots begin to connect.
Great to see an open mind here. However, you please be aware of the blind belief in capitalism and democracy in Western countries. China's hybrid system is very worth noting in which the state-own and privately own companies share roughly 50/50 of the economy. The government can influence the directions of the economy which strives by private sectors and furious competition. US economy benefits most the riches. China economy benefits the majority of the people.
I don't see India having any "miracles" in regard to its economy or government in the foreseeable future, but I think in the long run India's growth model is much more enterprising in a way that is sustainable for a gradual, permanent enrichment. I think the India we see today is still in the midst of growing pains with the shadows of British Partition, Castes, and Civil Strife heavily weighing down modern politics. This is a symptom of a nation addressing its problems head on rather than adopting a palliative solution, essentially laying the groundwork for a powerful Indian culture and economy in the future, especially adaptive at surviving a polarizing world between the east and west, India is ideally located both geographically and politically to thrive in the uncertain global trade of the future.
You're right, but often, what's popular is also what's the best. In the end it just depends on whether the people are well educated. Authocracy is about what's best, but only what's best in the opinion of a select group of people that you can't change. Whether the people's opinion or the dictator's opinion is what's "best" depends from case to case. But in democracy's case, at least it's possible for there to be a change of course if things get really bad.
Under Indian Prime Minister Modi, India ranks 115 out of 125 countries on the world hunger index, India has 42 of 50 of the world's most polluted cities, 125 out of 150 nations on the GDP Per Capita PPP list, biggest income inequality in100 years, record unemployment, 95% of educated Indians are unemployable, low practical engineering skills, historic low of the Indian rupee against the US dollar.
@@val-schaeffer1117 Everything showing Bharat in a poor light is propaganda when the ground reality supports the index. Next, you'll say GDP per capita is high when it's among the lowest in the world.
Half indian half serbian here. I must say its only once i visited india (dehli and mumbai) and i will make sure thats my last time there. Places are so dirty air has so much pollution, infrastructure is ass traffic is everywhere people are everywhere, overall it was a horrible experience and i like it so much better here in poland (its where i live)
▶Summary of the "Rising Bharat Summit 2024"◀ According to Professor John Mearsheimer, USA superpower? ✔ Russia superpower? ✔ China superpower? ✔ India superpower? ❌ 🤭🤣
@@PeepingTom-xy9di Talk about basic hygiene first, then you may mention income. *Title of article/research/report:* Progress on Drinking Water and Sanitation 2014 update *Global Source:* UNICEF *What article said specifically:* India continues to be the country with the highest number of people (597 million people) practising open defecation (Fig. 17).
India also lacks in other aspects: 1. Supply chain 2. Public Infrastructure 3. Safety My friend who makes parts for Apple said that Foxconn recalled many of its staff back that were stationed in India back to China, because two of their male higher ups were raped while going for dinner. (It wasn't even late night but around 8-9pm)
The female Spanish tourist that went to India together with her husband is an influencer who bikes around 60+ countries around the world including Muslims countries like Afghanistan or the Taliban (She took a Taliban selfie?) and she experiences no harm or hostility. All the locals were hospitable to her and her husband. It was only when she made the fatal mistake of visiting the "R" capital of the world, |ndia (79.8% Hindu majority country), that such incidents happened. Dumka was the place where the horror happened, and it was populated by 79.06% Hindus and 8.09% Muslims (Census 2011). Try to make an educated guess what is the religion of the perpetrators and why special rights/privileges were there to protect their identities?
@@AZ-rg3rf Indian hall of famers: The men were identified as Sandeep Pawar, Mangesh Kamtekar, Akshay Kamtekar and Ramesh Ghag, all locals. They are charged under India’s Wildlife (Protection) Act 1972. A local court granted................Hindu Pride of India. 💪
Thank you for bringing a lot of interesting ideas to compare the economy growth between and China. I think you have already found some great points, but you probably have not done deep research into either China or India's culture and history, so even what the Indian professor's said are just the iceberg on the surface of the sea, but not in the water. You made great points that Education, liberalization, investment-led growth and FDI are major points, I tend to agree with you. but there are good root cause behind. China has the largest economy over the world for most time during the past 2000 years, and it has been a united empire for more than 2000 years, only except it was defeated by UK in Opium War in 1840 and since then, China fell into many wars and was seriously harmed by imperialism and fascism Japan in the second world war. China was able to recover by revolutions and got independence and then after several decades of trying error China was able to go for reform again and open to world economy since 1978. Compared to China, India was a symbol of culture on this peninsula for many different races and countries, and thus India was not a united country for most of its history. It is a mixture of local indian/south Asian races, aryans , mongolian Islamic and many others, they speak for different languages and have faith in different gods. There has been no unified Inida, until Inida became British colony and the British governors made India to be a country and they declared independence then. From start, the upper class of India has considered themselves to be westerners of Indian descent. which has also mixed with India's local caste and became a major obstacle to economy and education development. Any other Asian country can develop faster than India if they are given the right chance and right policy, and governance, such as Korea, Vietnam and etc. Things are just harder in India. US politicians tried to use India to contend China, but they are wrong. China has actually got a quite complete industry base and good education even before the reform in 1978 and open to the world and start its import -export labor intensive process industry, such as cloths , toys. the industry base was largely setup by the need of national defense against both US and Soviet Union between 1960~1976. Both US and Soviet Union had wars with China indirectly or directly, and both declared to throw nuclear weapon to China, so China built its heavy industry including all kinds from mining to iron/steel to fertilizer to car/truck factory to cotton mill and clothing factory, all of that was managed by nation owned enterprises, and lack of the freedom and liberalization in market economy. Since China has many people including scientists and economist abroad, they brought back the ideas of working in market driven economy and brought back a lot of FDI since 1978. the City Shenzhen was built from a fisherman 's village and soon was turned into a booming city and now it is already one of the largest city in China, Shenzhen's GDP alone is higher than Taiwan. Napoleon said, "China is a sleeping lion, once it awakens it will shock the world". India was also very rich at the time of Napoleon, but it was not a united country, and it had no way to protect itself and soon India fell into British colony. If you travel to China for a few weeks, you may soon realize China has over 1 billion people can talk in same language and read same Chinese character and most educated people (also about 1 billion) can read history books and ancient Chinese stories back to 2500 years ago, because of good education, this is very much alike to the fact that in US and Europe, students were told the history of Greek and Rome. China has also been the single only one, culture in the world, that has never been discontinued in history. ancient Greek, ancient Rome, ancient Egypt, Babylon are no longer there, the people living in these places are talking in modern language and has no way to read their ancestor's history and books. This unique advantage has given a lot of ambition to China people to have consensus on the country and culture's future, and people are willing to help others even if they don't know each other, so you can see a lot of China people already in foreign countries still believe they are Chinese, while Indian people in US/EU, think they are already north American or European. this helped the super rich people to have heavy donate back to China to help education and economy development and share their great ideas and insights to China government to help the people that talk in same language and share same history and value. "Run Run Shaw" is one of successful merchant in Hongkong who donated a lot to China universities, you can see his names on the buildings everywhere in different universities of China. and many China students are proud of him. and some other merchants took him as example and donated in sports and science research. Last thing I would like to add, is China government people love to study and learn from western countries, and from Japan too. you may see China state-owned banks had reform in about 1994 and got investors from US and these successful US banks helped China banks to do structure change and reform and how to do business, China is nothing like communist, it is just like a culture based unity. and China is in many aspects , has less restrictions than US, and embrace more to free market , free trade than US. and surprising, if you check how many people in China has ever learned English, the number is 1.1 billion, it is much higher than total population in US, and higher than those in India too ( it is about 120 miliion in India) . China does not appear to be an English speaking country just because most students only know how to read/write English, but they don't speak English very well, but things will change. if you look at technical/scientific papers in the top journals, you will see more & more are written in very good English by China researchers /students. and more and more China students from top universities can speak English, tell jokes in English and go to top universities in US and Europe too, and still think they are Chinese.
How can you criticize Mighty India? India is the greatest country in the world, South Asia is all India! India is the main supporter of Israel, India's largest economy! Don't just talk... Spoken by the most intelligent and highly educated BJP sympathizers
Probably the most compelling and comprehensive analysis by any western economist! I live in India and his analysis is spot on. Also, this is the most fact based and unbiased analysis I’ve ever seen about India! Thank you for making this amazing video! 😊
India has chance but very hard to chase up. China has mature chain of any industry. Educated workers and engineers. Now Chinese companies are turning into high tech industry. like Electronic device and EV. AI. These new tech bring huge profit and tax. If Chinese company break thru the microchip tech. the gap between china and india will be bigger. As a chinese, i can tell you honestly China never compare to anyone. Our goal is making every Chinese living in good life.
Little advice: things are political in India and listening to Raghuram Rajan, who is noted against the current political party is not going to help you. He said India would be lucky to hit 5% growth in 2023 and it posted 8.2%.
@@Tonad_Drump Raghuram Rajan is just a neoliberal shill. I used to respect him because the news only covered his adroit skills as Governor, but his interviews latelt shows him how hypocriticial he can be. He loves fearmongering to the population by badmouthing the incumbent government everytime... "Le market will collapse! GDP growth will soar!". Hopefully people will realize that the mutt just loves swimming on his luxurious pool stratifying the population for an agenda to get his foreign globalist institutions more money.
As an Indian I am accepting all your claims bro and also India is not just stuck with this problems specially South Indian states already showing great growth in both economy and education to so I believe we will develop in our in way Speed
MoneyMacro could you make a video about Premature Deindustrialization and the rise of automation and how these two will affect developing countries in the future? Thank you.
That is a perfect and well-balanced explanation. Rather than resorting to often repeated generic reasons which are usually given by Western observers who are disconnected from the ground realities of India, this analysis based on the work of two eminent Indian economists points out the so many actual problems within the Indian state that have to be solved with close synergy among the central, state and local governments. The growth achieved after that will be long-term and its consequences permanent, much like the United States, which grew over 2 centuries and not just in 40 years.
Indians were saying that China is debt trapping countries? Source: "Decoded: China's debt-trap diplomacy (WION)". Instead, India buys so much of "made in China" until China became their largest trading partner? Did India unknowingly/knowingly did that? This does not makes any sense saar.🤭🤣😂
Do u live ur life solely to defame India ?? Where do u get all the time to do this , get employed do something for ur parents and live an unstressed life 🤡
@@themosqtosaitamacouldntkil5603 I literally provided the source whereby your media said that and you're saying that I am defaming India? The shamless can't feel shame indeed. Indian culture. 🤡
Fundamentally China has a homogeneous population with similar aspiration which helps China's authoritative govt to take bold and firm decisions. We in India, on the other hand, are a too diverse where each set of people have totally different and sometimes entirely opposite aspirations. Any decision or policy in India would be shortsighted as elections keep coming regularly and it needs to take along group of the society. Hence we can never achieve such rapid pace of growth. But whatever growth we get are small steps towards building a common consent and the coming generations will reap the benefit of a well-developed strong stable India.
Judging from China's experience, you only need to unify the language, culture and education, downplay the color of bullying, downplay religion and downplay neutrality, and repeat education for 20 years, and you can get a very United India. Commonality is the foundation of unity. I don't know if translation can be accurate. Translate what I mean.
@@刘东刘-r7stry even one of these things and you will have riots on the very next day and can go on for even next 2 years with the funding of foreign countries like USA and Canada . We have played the same game way too many times . We know what our enemies and partners think about us and we are becoming powerful to make our enemies and partners think twice before starting anything serious with us. That is our method of piece .
Well that is the biggest problem in India and people didn't even acknowledge it in cities it is surely the garbage problem people really throw plastic on road wherever you go their homes are as clean as a house should be but the streets are not
Very insightful - thanks. Here's another nuance - let's be specific about what local government means in India. It is a city municipal corporation ( elected officials) or a district government ( unelected bureaucrats). The largest cities are often a huge part of their respective state's GDP. There's no way that a State Government will cede power to a city Municipal Corporation even if the same political party is in power. FDI wants to go the the large city predominantly, while the State Govt is often run by the more rural politicians. City infrastructure has been held up for decades due this lack of alignment
india loves drama and politics and bollywood and fighting with their neighboring countries about bhasmati rice. that's what they prefer to do instead of developing their own country and helping their own citizens.
typical and boring narrative from a Westerner... As Chinese, every time I see Indians and Westerners talking about why India lags behind China, Why have you never asked the Chinese for their opinions? In particular, Westerners have had high expectations for India for half a century, but the West has never regarded India as a serious challenger. India even easily lost the 1962 war with the support from both the United States and the Soviet Union, now we even see that democratic and free India is even unable to compete with the CCP also economically. Remember, India has never faced serious international sanctions, but the PRC was sanctioned by the capitalist camp led by the United States from 1950 to 1979 after the Korean War, and PRC was also sanctioned by the socialist camp led by the Soviet Union from 1959 to 1991 due to the Sino-Soviet Split. The CCP was contained and sanctioned by both superpowers for 20 years from 1960 to 1980 simultaneously, the PRC was poorer than all African countries due to sanctione from both the first world and the second world led by the United States and the Soviet Union. If we also include the warlord melee that took place in China from 1911 to 1949, the large-scale massacres by the Japanese army, and the civil war between the Chinese Nationalists and the Chinese Communist, Millions of houses were destroyed and tens of millions of people died. The Indian independence movement was not that tragic, right? it can be said that the starting point of the Chinese is much lower than that of the Indians, but why did India win at the starting line but quickly lost on the halfway? Because the capitalist regime has never dared to touch India’s core social system issues, let me point out a bloody reason: because India did not go through bloodshed of the national and class liberation struggle, Indian independence was through the mercy from the British colonists, from the so-called the revolution of "non-violent non-cooperation" then achieved independence. The Indian nation is only superficially independent, but India's ruling class and social structure are exactly the same as those of British India. This is the most fundamental reason why India cannot achieve the development speed of China. While all the anti-communist media ridiculed and hated Mao Zedong and praised Deng Xiaoping's liberal reform endlessly, have you ever thought about why China still could develop better than India despite Mao Zedong being so bad for 30 years? Because Mao Zedong overthrew the three mountains that oppressed the Chinese people: imperialism, feudalism, and bureaucratic capitalism. The Indian National Congress only drove away imperialism, but feudalism and bureaucratic capitalism never disappeared, It is even more bound up under Modi’s right-wing fascist religious extremism BJP. Therefore, if India wants to challenge China or even the United States in the future, India must first sacrifice tens of millions of lives for revolution. Otherwise, when India challenges and threaten China with Western help in Cold War 2.0, Nehru 2.0 will encounter a more ruthless attack from China, And this time the CCP is not agricultural China but industrial China. Because China is no longer in 1962 anymore. The GDP between China and India was almost the same in 1962, but today the gap between China and India has become five times. OK, would you dare you support the revolution of the Naxalite Maoists? ? I know that it is useless for me to say so much. It is impossible for India and the West to support the Indian Maoist revolution. Then India will never catch up with China in terms of development speed.
lmao yours is even more boring than the video with a bunch of words salad. Sacrificing millions of lives does not equal production. North Korea and South Korea is the best example. Also greed is endless, by your logic China can rises even further beyond now with the Great Leap Forward 2.0, but China didn't😂
Next 15 years is going to be critical for INDIA they make use of this golden opportunity or BREAK IT . I'm in TAMILNADU which south most state of INDIA and 2nd highest GDP generation state and her you have almost all automobile company manufacturing plant and Foxconn has biggest manufacturing facility outside CHINA and it is located in SRIPERUMBUDUR, TN . And TAMILNADU has 46 SEZ special economic zones which is highest in the country . TN has 16 engineering college in Top 100 and 33 arts & science institution in top 100 institution list released by indian union government . TN is ready for its growth story .
Good that the video and the cited sources are willing to address the non-PC idea that democracy is actually one of the factors holding India back. For comparison, most of the East Asian dynamic economies rapidly industrialised (or reindustrialised after WW2) under either outright military governments or else effectively single party governments.
Classic example is POSCO of Korea trying to build a factory in India. After 10 years of paper work they left India, even though they had the best technology to exact that type of COAL
National average IQ of India = 76 and National average IQ of China = 104. That is why most of the key technologies are dominated by China eg. Consumer drones/ EV cars/batteries/ Solar panels/ infrastructures such as HSR/Bridges across oceans/ rare earth mineral extraction and refinning etc. The list goes on. Furthemore, China leads the world in 37 out of 44 critical technologies, according to a report by an Australian think tank , "The Australian Strategic Policy Institute (ASPI)".🤭😅🤣😂
Indians constantly blaming politicians shows you their inability to actually find what's wrong with them and their culture. it's not the politicians. lol
인도 평균 IQ가 83이 아니고? 인도는 교육의 질을 높혀 인도인들이 더 똑똑해지는 것이 필요한 것 같다. 중국인들은 세계에서 가장 어려운 언어와 문자를 쓰는 덕분에 머리도 좋아진것이고 전통적으로 배를 굶주려도 아이들을 학교에 보내야 한다는 생각을 갖고 있는 사람들이지. 영국의 바오처 클라우드에서 통계한 중국인들의 IQ는 105.8로 세계에서 가장 똑똑한 인종이라는 것이라고 밝혔다. 홍콩의 IQ가 108이지만 홍콩도 중국인들이기 때문이지.
India's primary problem is less payment or salary, 'India produce genius peoples' but they leaves India ASAP when they get better pay job in foreign country... I'm a 3D animator (learner/student) I learn from a neighbor uncle, they are two brothers and young brother learnt both game animation and acting animation both, and works in a South Korean game studio, because Indian companies doesn't pay much, even some Animators with like 10 years of experience earns like basic INR 40'000 while in other countries it's twice or thrice, my teacher himself earns like INR 60'000 with more than 15 years work of experience and top of that, he leads a team as a Leader.....
Not the best description as he ignored the basic factor that drives the economy of a country that is middle class. First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside. Economics of a country is very complex subject and it involves lots of complexities, and the main component to judge the economy of a country is to see the middle class population and the ability of governments to complete there tenure. As rich people saves the money, poor people don't have the money, and middle income people spends most of the money, and the economy of a country is dependent on how much money the people in that country are spending on goods or services.
@@AbhishekSingh-jf7co I have no argument with what you wrote, however, you assume the middle class growing or shrinking as a given. There are factors that cause growth of the middle class, which is what the video dealt with. India's poor won't move to the middle class, regardless of population size, unless these factors are present. Politics, as you said, of course are different from economy, but politics can hinder economic growth. I don't see anything is grossly off by what he explained. This comes from an outsider that does business in both (though more connected to India than China).
@@charles5a I am talking about facts that the graph of middle class population in india is increasing and there income is also increasing gradually, soo in future if it continues there will be a time come when the companies will look to india to sell there goods in india first because of the large middle class population in india and in my opinion it can happen by 2035-2040. And i know there are lot of problems in india, but its also a fact that its middle class population is also increasing year by year. As a large pool of middle class people spends more in education, healthcare, roads and other things for the next generation and it will improve things to some extent. And also u can't deny the fact that india's middle class population is increasing more fastly than china, whole europe, usa, korea, indonesia, asean, vietnam, etc. And also, i agree india has many many problems but still india's middle class population is increasing its also a fact. Any country economy is dependent on the people of that country, as how much are they spending in goods and services? And also as i said, Rich people saves the money, Poor people don't have the money and Middle class people spends most of the money.
@@AbhishekSingh-jf7co The problem is India's middle class is minute, compared to the others that you mentioned. Percentage growth looks fantastic when it comes from a tiny base. I'm not sure your 2035-2040 prediction is well supported, though I hope you're right. My own views on the risks to India's prosperity: - Extremely bureaucratic for no discernable reason - High ethnic, religious & class tensions - Rigid management structure by habit/cultural expectation (it takes months to train people in my org that they are expected to bring objections when they see them, and many never get it - "yes sir" mentality) - Caste system still holds outside the main cities (didn't take advantage of such a large population) - Educated class too tiny as a percentage
@@charles5a I am not talking about the percentage but i am talking about the amount people in middle class adding up in a year and also that amount is increasing year by year and that will drive the growth of the India in future and in present too driving it. You can never change things overnight, we need to give it time and in the coming times, India is becoming a big market of the world where companies want to sell their goods. That's why I am saying that by 2035 or 2040, India will have a pretty big middle class like China had in the year 2000. The point to be noted here is that I said that there will be a huge rise in the middle class, this does not mean that there will be no poverty, there will be poverty too and there will be many other problems too. But because of this growing middle class, India's economy will remain more stable and when the right time comes, what we have been trying for in the last 20-30 years and after next 15-20 years, that right time will also come. If we want to understand the current economy of any country and its future, then we need to look at the middle class population of that country and their income to see if both are increasing or not. And in India, they are growing towards a good population which is making India a bigger market. I just have one fear and that is the fear of AI, Amazon, other big shopping sites and what impact it will have on India's growing middle class. As I said, this video starts at the wrong place, no one can tell what shape an economy will take in the future. And also economy or money of a country is basically very different from the things u said or the thing which has been said in that video, as ray dalio is not mad, he understands more statistical and fundamental data than this man in video. Economy is a very vast subject some group of people or a single man can't explain, so u need to listen both parties then u have to make a conclusion and it can be wrong too.
Biggest issue is the class division. A huge wealth disparity is hurting india. And the 2nd biggest problem is lack of accountability and morality in Indian culture and this can't be changed on a whim, decades can be required. No one here follow laws and no one wants to be accountable here for something , from general citizen to high level politicians or officers. NO ONE.
@@saneeshkaithathara4241 No kidding man, I almost gave up, they gave me every possible excuse for not able to sell SIM card and internet service to foreigners. I actually had to look their regulations up and show it to them to convince them to sell me a SIM card
Speaking as someone who did business in both India and China, including building factories and meeting with public officials, India and China differ in one major aspect that is the root cause of all the differences cover in this video. And this aspect will never be covered on RUclips since it would be confused with racism. The main difference between India and China is their culture. The Chinese, as a generalization, are technical, systematic, precise, and highly comfortable with hierarchy and authority. But Indians, in general, tend to round corners, stray from plans, focus on unimportant details (or don't focus at all), and have a hard time integrating into a hierarchical system where everyone knows their part. Even if India had the money or China's centralized government, they would struggle to find the execution capability at the base of the pyramid but also all the way up to the top. This being the case India has a slim to no chance of ever escaping poverty. And with the additional problems we know plague India, I would not bet on this horse. A few major problems I've noted - India's federal government is VERY weak. It struggles to undertake the simplest of national projects across state lines. The Indian Administrative Service (IAS) is geared toward low-effort low-risk activities (since they can't be fired). They won't move without the state PM or Chief Secretary. Not even an inch. The Indian population is very NIMBY, and politicians are attentive to this. The state political system changes often and they refuse to start (or work on) new projects 3 months before or after an election which makes projects hard to start, expensive to run, and high risk. Good luck India. Good luck to anybody who thinks of succeeding there as a foreign investor.
Mate, it's true we will never grow at the same rate as China but long term we will get there nonetheless, India's demographics are healthy, we are consistently growing at 7-8% YoY and all this growth is mainly coming from internal consumption which makes the country extremely resilient to external shocks
From an Indian: One of the reasons why India can never grow like China is the immature politicians of the BJP (the main party) who focus on petty religion based politics instead of uniting the people across religion, and caste. Religion based politics is a major concern in the North although the South Indian states of Kerala and Tamil Nadu function almost devoid of this issue. I believe that the missing piece in the puzzle of India's growth is the cultural revolution which was crucial for China.
The key to China's economic success is that China has a great leader, Mao Zedong, who brought China into the era of industrialization. Mao Zedong is known as the father of Chinese industry.
Every month I try to allocate a portion of my income into high yield investments. But I’m curious, how feasible is it to make my yearly salary in just one month without jeopardizing my portfolio
It’s definitely possible but extremely risky. You’d have to dive into high risk, high reward investments like cryptocurrencies or penny stocks. The current state of the US economy, with its volatility makes it even riskier
I tried something similar last year and ended up losing a significant amount of my portfolio. With inflation and market fluctuations it’s better to stick with more stable investment unless you have a solid backup plan and can afford potential losses
My portfolio took a hit when I attempted aggressive trading strategies. Now I’m more conservative, focusing on long term growth and capital preservation
You’re not doing anything wrong, the problem is that you don’t have the knowledge needed to succeed in a challenging market. Only high qualified professionals who had experienced the 2008 financial crisis could help to earn a high in these challenging conditions
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful
I thought you would mention the way China liberalized their economy using special economic zones at first. So, my understanding is that they could fine tune their approach in the first years, and then apply what worked to the rest of China. In the case of India, I don't see why they can't do the same.
@@MoneyMacro Chinese leaders during the booming years were also putting on an act to western leaders, and it didn't impact their image back home due to media control. Indian politicians can't do the same, they also often go to protectionism as well.
India did, and still has many SEZs ( special economic zones), except for the one's in the information technology sector, most didn't do as well as in China, because of the reasons mentioned by jori.
@@MoneyMacroYeah actually India has many SEZ's compared to China, but due to the bad infrastructure and as yiu mentioned non cooperation of the local government it wasn't able to take off. You can check out Abhijit Iyer Mitra's work on this and why India is being held back, it's more than what you discussed in the video.
I honestly think India is running out of time. One of the biggest factors with China's growth was the high amount of young working age people at the time which gave it unparalleled manpower. India's fertility rate has already started to drop, and in just a decade or two it might miss the train completely.
Great analysis as usual Joeri. I'd like to point out that India's liberalization strategy was starkly different from China's. While in China and other southeast Asian economies the state played a key role in the growth process the Indian state distanced itself from business in sort of a neoliberal sense post the reforms of 90s. [Politics of economic growth part I & II, Atul Kohli] This is one of the key reason Indian has failed to industrialize and is likely to de-industrialize very soon. [Has India deindustrialized prematurely?, R Nagraj]
the main difference is "Mentality" that's where India fell behind. keep everything aside. in terms of mentality India is still 200 years behind than the Chinese. it makes a huge difference overall
I acknowledge that it's very difficult for India to grow exponentially like china but still it's not impossible. Our country needs major reforms, the government especially and its policies that make it solely impossible added the worst education system we have. A little improvement in people's mentality and mindset will help too. Nothing is impossible if we all can do
Liberalizing will make the economy grows faster is just a propaganda. To liberalize, to control, and to make the right timing of both the two are all parts of the instrument usually implemented to make the economy grows faster.
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paje ets will fil up here and complain and say china is collapsing
you didnt talk about non tariff measures?, india right now does not have free access to western markets the way china did
Interesting analysis. However, you missed two important differences.
One, India net exported engineers, software engineers in particular, to the West. Brain drain?
Second, the carry traders in the US took the billions that the FED in the US made available thru their quantitative easing (QE1,QE2, etc) program and moved it off shore buying Chinese bonds that were not selling well because there wasn't enough world wide demand by foreign investors in the private sector at the time. This also explains why the QEs didn't add a lot of inflationary pressure to the US economy. The carry traders moved most of it off shore flooding the Chinese economy with US dollars. Billions with each QE. This also explains the growth of the Chinese real estate sector bubble as Chinese banks struggled to find places to loan the bond money out.
This was one of the better analyses that I've seen. Keep up the good work.
Oh, by the way, the net export of H1b engineers to the US flooded the market suppressing wages in the US. That in turn displaced American engineers. Many of which left or telecommuted to China causing a brain drain here in the US at the time.
Please do an EU version. I would love to see what experts think and how it compares to the US or India, etc.
About 15 years ago, I started a company in Xi’an, China. All the paperwork took about 3 hours. The local government even assigned a clerk to walk through the whole process. 3 hours later, I had the license, bank account, and office lease agreement. And the local government even ordered a company name plate as a gift.
@@enriquemino9963 3 Hours is way too quick. That’s just dangerous. Leaves the process vulnerable to fraud, corruption and tons of new small companies selling unsafe products because they haven’t been vetted properly
@@enriquemino9963
Democratic Hindia is very corrupted.
You are not joking 😃
3 hours in China. In India even 3 years the investors are still waiting for the licence.
Wow. For real? Man
China attracts talent and exports industry products;
India exports talent and imports industry products.
lol
This so true. Cuz Indian talents once gone overseas would NOT return to invest back in their own country. Cuz they know they do not get the pay and quality of life that they experience overseas. As compared to China's returning talents that builds China and is largely nationalistic too.
Nxt factory of the world for sure! History will repeat again! most richest persons and cities in the world will be indian in the year 2030! if you laugh in my comment then you are fool because you have to wait until 2030!
@@UNKNOWNWORLD-k9s LOL NOT happening ! when policies and current climate remains. Not forgetting the dirty tactics of India done on FDI businesses ...
china attracts talent? No, they dont lmao
As an Indian, I already instinctively felt the lack of governance at local level but your video made it very clear
not sure low taxes are a bad thing though. I dunno, on another note India has a huge demographic advantage over China now
Have you been in China at a "local level"? Buddy, ask this reporter about the dangling real estate crisis that Xi is nursing. China and India are different. Xi will go if the unemployment explodes. Westerners and media have no brains nor do they have conscience. This is crap
You are not Indian, but a Soros paid Chinese national pretending so on SM behind a propaganda account.
Right, you are an Indian from India who speaks perfect English, who spent his entire life in India, but it took this video for you to realize what is going on. Mu ha ha ha ha.
Either you are so daft that your opinion should be disregarded anyways, or this video is propaganda from a scared CCP and you are on their payroll. Frankly, I think it is all of the above.
@@Dreadwolf3155 A difference of Few millions is not huge demographic advantage.
India surely has a younger population but this becomes irrelevant when you see the conditions of the education that we give them.
There are paper leaks in entrance exams and university syllabus is out dated, where students in eu and us are studying AI Machine Learning and Data science India students are thought regarding technology that are not in use or knowledge that isn't demanded by job industry, causing a huge unemployment causing students to look towards getting stable secure jobs in the government.
Our healthcare system is even worse.
my city in Shandong china, if you have any complain about the city, road, environment ect. you just need to call the mayor hotline, tell your requirement, there will be related administration bearu contact you within 24 hours, and the driect person in charge will be on line with you, to discuss your requirement and how they can slove it. After sometimes, if the problem sloved, then later the mayor hotline will call you back to ask if you are satisfied with the result or not. Everyone in our city can help to improve the image of city, this is just one of the advantage I want to talk about.
I’m from India I visited China and it was so clean and advanced. It was cleaner than American cities. China has done an amazing job.
@@ihmpall I haven't been to many cities in India, but the Jaipur is the one city that impressed me compared to other cities in India, it has clean road and nice air to breath. I like that city a lot.
@@lihaiyang1120 I am Australian but if you compare today's India to 2007's China which had a similar GDP as that of today's India is very different. If you see the videos of Chinese cities in 2007 is very advanced as compared to today's India. Even China was able to host the Olympics in 2008. You should look into that and think about how big is the corruption still happening in India.
@@REALITY-bq7bp Difference is that the ratio of national owned enterprise and private company of these two countries. Foreign direct invesment comes to Chinese national owned company, but the invensment to India goes to personal account. Every country has corruption it's just in one way or another, but on the national level like China, the foreign invesment can be placed in a better way.
First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside.
I started an amazon business in Canada so I had to go to China to source the products. I booked a flight to shenzhen for a week. But I was done after the 2nd day. Efficiency there is like no other. ?You want something done and its already waiting for you.
you want to get something done in India, bhul jaao ho hi nahi sakta!
India is already next Africa, corruptions everywhere...@@srdshukla4
@@srdshukla4it’s because we have no openly visible tracking system of anything in public domain. Also, govt job people mindset of not doing work. Don’t worry time is changing for India 😅
@@srdshukla4thanks to Brahminist India .
@@thegamer-xd6uw go save cow first
Biggest difference between China and India is its beurocracy and governance efficiency where India is still nowhere close to China.
european beurocracy
@@ayatahm9987 yup she is derived from and illegally born from them. not india
Accha??
@@Alphation what? Who are you referring she?
toilets!
India is so proud of its "democracy" but at the same time, it fails to realize that the populist usually doesn't make the right decisions. It makes a decision that appease the voters by disregarding if it's correct or not in the long term.
What generally follow is people who have votes usually want more shares and the "leading candidate" would have to compromise. Imagine compromising over and over, decades after decades, parties after parties with different people at the top. It's like many writers trying to continue the already existing storyline of an anime. Every person (or party) would have different preferences of how the story should be done. When it's said and done, it would be very different from what each person wants in the beginning.
To make it worse, in most cases, the candidate usually being picked by rich people or corporations that have profit motive......
Perfectly summarised
We don't have democracy we have elected kings that tend to be populist. Democracy can work without a paternalistic government. I.e. most Western European democracies.
india is no way near a democracy its hinduvtacracy
india just likes to say its a democracy the same way norht korea claims to be a democracy
china is a dictatorship where one man or a group can impose their will on a population of slaves.. this dictatorship led china to rapid growth in the last few decades.. but the days of rapid growth for china are over.. china will have slow growth from now on.. the ccp used the chinese population as slave labor to make export goods for the west.. all the money & technology came from the west to build these goods.. before that the chinese couldn't even build a decent bicycle.. western capitalists & chinese elite got rich by this model.. the relatives of xi jinping & all ccp elite live in the west.. the ccp has billions in assets stashed away in the west as well.. so the west has enormous leverage over china as all chinese elite are essentially puppets of the west.. look at the plight of common chinese today where the stock market is crashing, the real estate is collapsing & unemployment is rampant & rising.. the chinese dictatorships 1 child policy plus the rapid aging of chinese society ensure the days of rapid economic growth are over.. the chinese are getting too old to be used for slave labor.. the chinese dictatorship used an extreme growth model where the ccp elite got rich but the chinese masses are suffering & caught in a middle income trap from which they could easily fall back into 3rd world poverty..
to be honest, India even can't compete with vietnam.
India can only compare to Afganistan that more like it
India Pakistan Bangladesh they are all the same in the terms of progress and productivity
@hidolfatler yeah, BIPS are just like that. Same work and social culture, same governmental structure, same condition.
I have a friend who has a factory in Vietnam, they're almost as similar to China in business climate, there are corruption but not as much as other countries in south east asia. The working culture is also not as nuts like china.
@@hidolfatleri would say pakistan is the worst and bangladesh is the best among the three
India's main competitor is not China. It's Vietnam, Mexico, Indonesia, etc.
And Papua New Guinea
@@bopian8913😂
@@bopian8913 bro my city has 10 times the GDP of papua new guinea😂😂😂😂 and still less population!
Nope, just a handful of nations from Africa. Mexico is far better.
I think it's Pakistan at this point.
Why India can never grow like China? Simple.. China is all action, India is all talk
And when Indians talk they just can’t control themselves to stop.
Lol. Sure. GDP is growing because of India's garrulous tendencies.
@@AnkhArcRod Thanks to the pookies adani and ambani while the rest of the indians remain poor as shit. Check the wealth inequality difference btw china and India.
India social caste system triggers brain drain to other developed economies.
Because china is communist, dictatorship country...
As an Indian, I agree! Please also throw in the huge problem of corruption and organized crime syndicates run by the politician themselves.
That is there all over the world, not only india
You are not Indian, but a Soros paid Chinese national pretending so on SM behind a propaganda account.
Few observations about this video and the comments:-
1. This is CCP sponsored video to ONLY denigrate India as a place where only wrong is present.
2. Most commenters are Chinese/ Taiwanese nationals or immigrants- again mostly on CCP paycheck. Few commentors pretend "As an India, I also agree... I also hate my country..." again most of these are Chinese or other foreign nationals who have no other benefit trashing India other than being paid.
3. Within a couple days of video, far more views and comments, All OF THEM EXTREMELY NEGATIVE. Why would Non Indians benefit from downgrading India, even if they DO NOT LIVE there ?
4. Timing is just when there are attacks by Pakistan sponsored terrorism and cross border violations by pakistan army (again Chinese link).
5. Title is misleading. Which economists? What are their credentials ? Rajan and Devesh are known Soros agents and all of their predictions went wrong. They have only mocked the poor of nation and even wished for their eradication. With money you can sponsor any bullshit crap video, pass it off as study and a reality.
Expect more such Anti India, anti Indian anti incumbent govt videos which give an exaggerated and distorted 1-SIDED VIEW ONLY. Because that is in Chinese interests.
This channel itself will churn out many videos in the weeks to come. I BET YOU, JUST WATCH OUT !
Those 2 areas you also cannot beat China in. China is probably the world leader in corruption, so much they even developed it as an export industry and yes indeed the politicians there run the largest organised crime syndicates, which they have also developed into an export industry.
@@rak24ron Why is my country not like this? It is very efficient and will catch corrupt people. There are corrupt people in your country too, why don't you crack down on them? And it is efficient only if you pay them. This is very wrong. Not every country is like India. Yours has been rotten since the beginning of the rulers.
Hey bud I’ve been watching you over a year now- always highly informative. I’m an Indian and it’s fascinating how well you’ve captured what we instinctively have felt for a while
He forgot one key detail that while Chinese mainlanders are known to be rude and unhygienic themselves, nothing beats India when it comes to their rivers and rape.
Actually if you look just at West India (Gujarat and Maharashtra) or South India (Madrasis) those regions growth have surpassed Chinas equivalent growth rate at the similar period. It’s only due to East India and the glut of North India particularly cowbelt that India lags behind China
@@debodatta7398 That isn't news. That's been the case since independence, and frankly even before independence. The so-called BIMARU states even literally have an acronym for themselves that encapsulates that.
If India was less arrogant, it could work with China instead of against China out of jealousy. Modi rejected BYD investment into India last year. Now BYD has invested in Europe instead 🤦🏻♂️
@@vervetech9395 So we should lose our people to China? It already illegally administraters a part of India and claims a whole state. We'd rather be poor than betray our people for money.
The late Lee Kuan Yew, founder of Singapore, said democracy would only bring regression, not progression. I fully agree with him. The success of the western nations was not because of democracy, but of other factors like education, etc.
Western countries? Colonize, plunder, suppress opponents and develop yourself!
The success of Western countries is not due to democracy, but to excellent limited liability company systems and market competition mechanisms. Democracy doesn't make cakes, democracy is responsible for dividing the cake. But it's not just Western style democracy that can divide the cake well
just replace education with colonisation and exploitation of third world countries.
The successes of the West are directly related to colonial plunder of resources and cheap labour these past 5 centuries. This now coming to an end, the ownership classes in the West are turning on their own populations in desperation as the rest of the World is now far better equipped to deny the exploiter their easy gains/profits. The current period of instability and chaos will definitively end once the US $ is put in its place and not permitted to bludgeon (sanctions) the World into accepting corporate plunder, the power of the US military already showing it decline and not able to contain all of the cou tries wanting to escape the Western domination.
In fact, most Western countries were already well-established imperial powers by the time they developed a fully-functioning democracy.
I think one other important factor you failed to mention in detail is how in China the party members are selected based on academic and economic performance measures. Basically, highly intelligent people with distinguished degrees and governance track records permeate the party.
in some ways, china never changed. it was the same in ancient china when people took the imperial exams to find the best government officials. obviously it was an objective metric which tried to put the best candidate for the job. and they all worked under one emperor who held absolute power.
@@jjsamuelgunn1136怎么说呢，中国在政府部门工作的人，特别是决策层，这些都是专业人士，一步一步走到高位的，在中国，不允许一个商人直接当主席，它必须在地方当过官，对社会有绝对的认识，
有一句话说：专业的人做专业的事。
.........Real Socialist country North Korea is much better than India now....
North Korea is better than USA and Europe in education now...North Korea literacy rate 100%, America literacy rate 96% only and India literacy rate 78% only...
China is a meritocracy ...the west is sillytocracy !
Selected* being the keyword, by the Chinese Communist Party...
Government claims Viksit Bharat (Developed India) by: 2047
Realistic timeline: 2447
you go to China 😂😂
Then go to China
@@kucchbechoindia super power 2020?? Who gave this slogan ?? I nvr heard this . I heard India super power by 2047
@@buddhadevadak5752 You are a typical Indian : If he goes to China ; Does it solve India's problem
Read about them APJ Kalam sir..he had stated it you d*mb@@jayakishore3032
Having been involved with China since 1992 , (we built more than 100 big ships and repaired more than 500 ships all over, and having been involved with the groth of the popular marathon movement) I had the opportunity to witnes the growth of China, and having visited key cities in India several times for business during the same time, yes I absolutely agree. The Chinese miracle can not be copied or dublicated by any other country. Culture, education, way of thingking and finally the "socialism Chinese style" of the governing sysyem is what has made China what it is today. Full stop.
In which way is China socialistic ... ?
@@peliculiar definitely not via the culture but in the way there is no private property and its a very centrally planned economy that revolves around the government.
@@porcelaincrown CCP owns everything but CCP ≠ China. There is an unheathy competiton among their citizens, low trust society, scams everywhere you look at. When I imagine socialism, I imagine equality among people and safety nets for the ones in problems. There is nothing like that in China, even USA is more socialistic than China in this regard.
Are you still involved with ships? Do you have ships that need to be scrapped?
@@peliculiar which way? everyway, like government is communist, house's land is owned by government, public sector economy is 30%, CCP will interfere with the economic structure, top rich can't control Chinese politics, but there's only one thing that China isn't so socialist, China embrace free trade, market economy and globalization, so China is Soviet+Japan mixed sociaty.
Let me tell you the secret of the success in China:
1. the entire country works as a giant corporation. Xi is the president, premier Li is the CEO and the ministers are CxO's. Each province is a branch. The communist party is the HR system.
2. For thousands years, the mainstream ideology is a philosophy - Confucianism, Chinese always pay a lot of attention to the education, and work very hard, very discipline.
The ideology of Communism -- of paying those who do the actual hard work MORE than anyone trying to profit off them such as managers or executives - was ALSO a big positive for China's economy.
@chenmacro
"Let me tell you [...] work very hard, very discipline."
===========================================
ON THE OTHER HAND,
innumerable Indians want to:
1. IMAGINE that their culture (i.e. Hindu culture, SO-CALLED Sanatana Dharmist culture) has been the ONLY 'advanced culture' noble, ethical culture,
2. IMAGINE that all other people around the world have been either dullards and/or unethical crooks,
3. keep squabbling over irrelevant things like religion and caste (SO-CALLED Jati, SO-CALLED Varna system).
4. keep playing the victim-card.
*This problem has become much more severe since 26 May 2014 C.E., and continues to be so as on 11 July 2024 C.E.*
#1 reason of China’s success: Trillions of US$ invested there by westerners.
And don't forget another point i.e slowly capturing land from neighbouring countries
@@batista98854oh yeah its not like the white people historically not colonized asia is it not? hypocrites
The gap in economic size is 5 times that of India. Even if China grows 4% per year and India grows 6 or 7%, the gap is still widening.
Buddy, compounding interest is very powerful. Yes, initially, the higher economy will grow more raw figure wise, but it won't take long for the smaller economy to overtake the larger if it grows consistently at 7%, while the larger grows at 4%. Model it on a spreadsheet and you'll see.
@@MountainPork22 I just did the modeling on a spreadsheet, with China at a 4% growth rate and India at a 7% growth rate and the USA at a 6% growth rate. As it stands today, it would take India around 75 years to even come close to China.
@@CombatHD3 Assuming China's GDP is actually real and sustainable. With increasing evidence to the contrary, such as the constant power cuts and the increasingly creaky infrastructure and its serious social problems, I doubt the GDP numbers are correct.
@CombatHD3 75 years in human history is nothing. Also, I believe a few years after it would overtake the country that started off 5 times larger. China took about that time to get where they are now from 1950s and most people wouldn't argue the growth was miraculous.
The original commenter said the gap would still widen, I am saying that is not true. Gap will close, growth rate is king, not where you start.
@@CombatHD3USA at 6% growth 😮
It's at 2%
IMO as a lay person.
India GDP 3.4 Trillion. IF India grows @ 10% for 10 years India GDP = 8.8 Trillion in 2035
China GDP 18 Trillion. If China grows @5% for 10 years China GDP = 29 Trillion in 2035.
If China grows @10% China GDP = 46 Trillion 2035
Now matter how you look at it the tangent is growing apart.
When you enter China it is like entering the 22nd century. The airports, trains, stations, malls etc are simply awesome
India must focus on eradicating corruption. Too much bribes changing hands, resulting in poor quality engineering and building materials resulting in poor infrastructure, poor roads bridges, flyovers, stations and airports, sewage, poor drinking water, unreliable electricity. HNI Indians are the highest number fleeing the country, taking billions with them.
There are also loads of social issues plaguing India like cronyism and how Indian government officials have a extremely strong tribalism mindset thus why corruption is so rife within Indian society at large.
Chinese HNIs are also running in huge numbers you can check. The govt there is biggest don collecting money from rich and controlling them. However they are helping the poor.
actually is 3.9 trillion according to IMF
First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside. Economics of a country is very complex subject and it involves lots of complexities, and the main component to judge the economy of a country is to see the middle class population and the ability of governments to complete there tenure.
In India people who are incapable of running grocery shop into profits are getting elected into governing positions and are incharge of huge provinces! How would anyone expect that those provinces would actually grow!
😁🤣😅
Businesspeople tend to make for very poor politicians on average due to the starkly differing incentive structures, so this isn't really a fair comparison. What's more important in general is for elected officials to understand and capitalize on the value of long-term investments that take years to pay off rather than immediate, targeted payoffs and for the population to understand the value of the same.
That requires broad scale education in civics and economics, something which is difficult to come by in a developing economy, which means that officials often have to take a leap of faith that the long-term benefits will help their chances of staying in office and outweigh short-term opportunity costs.
You forget the many criminals who also get elected so that they get immunity.
😢😢 As an Indian it hurts.
Edit: Actually most of what you said is true.
It's not that india will go in negative.
It'll still become a middle income country.
Life is fairly good for them too.
His video is based on books by two people. This isn't gospel truth or what will happen for sure.
These are the same people who were predicting China to become a super power, championing it a few years ago while its cities were (and still are) crumbling, people are eating sewer oil and begging companies to not leave China on their knees. India's growth is already happening, which is why even the market was backing Modi (I am a centrist so I didn't even vote for any party tbh).
This video basically talks about past and not the current. No one can predict the future.
Then change brother, no use crying. We have to work instead of crying.
@@desmasicbro can you get a reality check? Nobody is eating sewer oil in China. That’s a false incident in China that was blown out of proportion by western media. Oil taken from recycle was for refinery for biofuel and other products. You just can’t get past your hate about the success of China. Meanwhile in India 60-80% of the population still shit on the streets
Stay SATNAM
Seemed many foreign scholars and analysts failed to highlight the critical success factor in China development miracle in the last 30 over years is the good and stable central government which orchestrated the country STEM education, HRM development, attracting FDI, industrialization road map, financial policies and ensure the execution at the local governments.
China is able to overcome various hurdles in the execution of their program e.g. the land is essentially public owned. So, the land required for development would be easily accessible and the stakeholders are informed and relocated if necessary.
Well if they did as you said, it’d be like acknowledging the merit of the political system of China, which will go against their narrative of universal value…
这些都是技术原因，这期间还遇到几次经济危机、金融危机、政治危机等，为什么中国可以发展这么快，关键因素中国几千年来的成功经验、文化和人民素质。
乖，我们不输出意识形态。好的东西为什么让对手学习？
That's because if those scholars bullet point the true secret sauce of China's success, they will be labelled as pro-CCP, thus cast out off the academic circle.😂
true...
Optimism about India:
People are more educated to get more foreign citizenships and Infrastructure is better to leave to country faster
Even the educated Indians have no class. Money can't buy class. Moment those so called rich and educated Indians speak, one knows their class. Behaviour wise Indian are not Asian but something else and that is Indian.
True India is suffer from brain drains
How is that optimism for India xd
Exactly.
I am studying to leave this socialist nightmare in order to move to Middle east or Europe.
I am glad we have private education to get us jobs elsewhere, and airports that facilitates leaving this socialist wasteland asap.
My motivation to study is to get lost from this nation.
Some emotional fools will say "Why don't you fix this nation instead" for them I'll say we been doing that for 75 since independence and yet failed to, i can bring no change and atleast I'm honest
True
Chinese political system is based on Meriticiracy while India is based on Democracy. Meritocracy will beat democracy any day.
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organise my finances prior to retirement. Could you provide me with access to your advisor?
Melissa Jean Talingdan is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Way back in 2016, I decided to visit India after hearing the hype and how they're leading in technology and are culturally diverse. Even seen some pics online. I was shocked to see the amount of dust and pollution the country had. The traffic, the honking, the overcrowded streets, I saw cows on the road. It was fun to see but whatever I read online about India being a booming economy, didnt reflect what I saw. The people and the food were nice though.
And you didn’t have a diarrhoea after eating the food?
@@asdfghjkl92213 No. I strictly avoided street food for the most part. The ones at the restaurants and hotels have good hygiene.
@@jimmorrison903Was the hygiene as bad as some have told me?
Like I heard naked kids will be taking dumps in the street. Drunk people too. Tossing buckets in alley ways.
Also don't go to India without men if you're a beautiful woman/women is what I was told.
2016 india and 2024 India looks completely different... I also didn't believe the changes we have made in such short period could have been this drastic....
@@jimmorrison903you avoided Street food?? I live here and I avoid it so yes I won't recommend you to have any...
You missed out the Chinese Diaspora. est,60-80million
Hong Kong, Singapore, Taiwan, and Asian tigers in the 80s.
Some of the biggest private enterprises in China at the early growth period were Diaspora owned. They bought in ready-made experience in factory operations, financing/accounting, management expertise without language and cultural obstacles when she was still transitioning from a marxist economy.
Most are now overtaken/outcompeted by mainland China enterprises, but some still exists. egs Foxconn.
Totally agree. In the 1980s, Hong Kong was the vehicle for China’s growth. Hong Kong was the middleman facilitating between inexperienced China and foreign investors.
Overseas Chinese were a very important source of foreign direct investment during the early reform years when western firms were still reluctant to invest in mainland China.
Shelley Rigger wrote a book specifically on the role of Taiwanese entrepreneurs in connecting the mainland to overseas capital, technology and supply chains. [Rigger, S. (2021). The Tiger Leading the Dragon: How Taiwan Propelled China's Economic Rise] This happened at an opportune time as FDI flows for manufacturing were moving away from the increasingly more costly East Asian economies (Japan, Taiwan) and towards Southeast Asia. The Chinese economy was able to capture these flows and become the main recipient.
The actual solution: Socialist revolution (Marxism-Leninism).
Indian and Western "experts" and "academics": NO WE NEED TO JUSTIFY OUR CAPITALIST SYSTEM AND LIBERAL DEMOCRACY, LET'S BLAME MUSLIMS AND CULTURE!
What made China big: A socialist constitution. A communist vanguard party. A meritocratic political system that puts competent people in charge. Ensuring that leadership has a lot of scientists. True democracy where most politicians come from the working class. Survey-based politics. Strong central planning. Focus on education and infrastructure. Non of which would have been possible without communist revolution and the removal of the bourgeois class from leadership positions.
The funniest part is that the guy in the video never even asked Chinese economists how they did it. Instead, he asked other Indian/Western capitalists. And that's why India (or the West) will never emulate China's growth story (which happened thanks to COMMUNISM) - they don't try and learn from China.
These "experts" go to great lengths to describe what China achieved: Better education, better infrastructure, etc. but never bother to try and understand what made it all possible (communist leadership).
Another funny part is the Western understanding of history here: "China liberalized its economy". No. Socialist countries always have free economies. What happened is that China tricked the US into allowing it to join the WTO which meant it was finally allowed to trade on the international market. It isn't China that liberalized... it was the imperialist world that liberalized. Turns out that when socialist economies are allowed to compete freely with capitalist economies... socialist economies always win. That was Deng's genius: Making Westerners believe that they were liberalizing while really maintaining tight control over everything.
By the way: "Attracting FDI" is a ridiculous lie trying to promote the idea that countries must allow foreign countries to buy up their industries and resources - FDI only makes up something like 1% of the Chinese economy. China also only allows foreigners to invest into some publicly listed companies... and when you invest in Chinese companies you get zero rights to the companies, no voting rights whatsoever, it's just a profit sharing scheme. FDI is mostly a diplomatic tool.
Then why isn't Indian diaspora helping India out of poverty and mediocrity. If we imported even one million Indians who have settled abroad like in US, UK, Canada etc will they be able to turn around the India story into a miraculous one?
That's not really a valid point because you are assuming India doesn't have a knowledgeable diaspora.
The fact is BOTH sides have approximately equal knowledgeable diasporas.
So the net effect for this comparison is .... ZERO.
As an Indian who has been following/analyzing Indian & global economics for years, I would say this was the least partial, most accurate analysis of Indian economics I've seen in a long while. Great video as always, kudos!
its accurate but not correct, in my opinion after 2035 india will also see industrialization at massive scale, as any country growth rate is solely dependent on the middle class of that country as in china's case this middle class is now has a stable population and not increasing, but in india's case its middle class population is increasing continuously soo by my prediction by 2035 or 2040 india will also have a substantial amount of middle class people like china had in 2000's and then india will also see a china type growth rate
@@AbhishekSingh-jf7cothan talk about it in 2035. 😂
As a Chinese, I’ve met a lot of Indians when studying in the Uk, and I love them, they are all good people. Indian food is my top 3 cuisines, the others being Persian and Italian (i don’t really like Chinese food even as a Chinese native)
So It really confuses me when I see how their country really is. It’s mind boggling. Maybe it’s the caste system being too rigid?
Your people are disciplined,hard working
I'm teenage boy if I ever get chance I will surely like to visit your country china once
Good wishes from PUNJAB,INDIA
@@Algebra-sk5th I welcome you with my open arms mate
I have the utmost respect for China and Chinese people and I hope that China becomes the preeminent superpower this century. I say this as someone with parents from India who was raised in the USA. Some of my best friends are Han Chinese Americans.
It's the quota & reservation system, freebies culture that alienate the talented people and force them to leave for abroad. While the incompetent ones reside here and enjoy the butter.
Casteism , I wouldnt say has disappeared but is surely fading these days . Its more about classism these days .
Indians lack civic sense , the development is concentrated only in megacities causing in over migration to only a particular cities ex. Mumbai .
Bureaucracy and Judiciary and slow af . Anything to be built takes like years to complete all the paperwork.
Politicians arent there to prosper the country , they are there to fill their own pockets . Thatsssss the rant
I have worked with India and China and forget India coming close to China before several generations if ever. Nobody in the office wanted to work with India and certainly not go there. They never respected contracts, were always renegociating. I think the chinese are much cleverer.
I dont like dealing with India, they take forever to pay their invoices. Are always poor paymasters
My contractor was an indian company. Many equipment purchased from india broke down after less than 1 year or got stucked at the port for many months. i also find a serious lack of business etiquette/professionalism such as contracts were not honored, poor planning & execution, under designed engineering either on purpose or to cut cost in order to claim variation order later and a lot of over promise (talk to much, delivers too little ). I would prefer a western, korean or japanese company anytime although the cost might be higher, the confidence are there. I have limited dealings with the chinese on contracts except for a few equipment purchase. Not the best quality i have to admit but it still works after 4 years and much cheaper. If i need high quality equipment, i will go with the west/japan/korea and if i want an equipment to just do its job with a cost in mind, i don't mind chinese equipment. i believed facts speak for itself as you can hardly find any big local indian companies having global presence perhaps the only exception is TATA. Even smart and highly educated indians dont want to deal with local indian contractors.
You are absolutely right. Our company does not want to do business with Indians because their words and promises cannot be trusted at all
@@Aurica34 yupp, that's why usa has that much indians, well i say indians are talented but the problem is it dont have appropriate money to deal with its internal problems
Indian politicians always strike me as uneducated, narrow minded and religious zealots. Some of them even looked thuggish. Coming from Indonesia, I always think that there are a lot of similarities between India and Indonesia. Indonesia is like the mini version of India. Whatever good or bad in Indonesia, you just need to multiply it by 10, and you get India. Here in Indonesia, some of those politicians are nothing but gangsters who were recruited into politics because they can mobilize mobs.
A bit about democracy, I have an opinion that it was not democracy that brought prosperity to today developed world, instead democracy is the byproduct of the prosperity that they achieved. Before talking about democracy, you need to get rich first. I remember that I once saw a picture of a little boy working in American coal mine in the early 1900s. Then you have slavery before that. So the US didn't get to where they are today simply by democracy and human right. The same with the Brits. There were a lot of sacrifice to be made before those nations can become rich and start to care about democracy and human right. Even Japan, South Korea and Taiwan started out as dictatorship. So I always find it rich that those rich nations lecturing developing countries about the democracy.
是的，工业化实际上需要集中的权力去规划和推动，民主对发展中国家来说，只会陷入无止境的党派争吵和腐败之中。
The most important point was not said: Bribes & corruption. If you are operating a business or even a shop in India you have to pay bribes & protection money to local ,state,& fed level government + bureaucrats + local goons(extension of political parties) + local police. This is the single biggest problem. If you are Indian you know, if you're not you'll never understand.
9 months ago, this guy put out a video titled Why China's Growth MIracle is Failing. If China is failing, then what do you call India?
"bee-haar"
is the correct pronunciation
Bee-haar got it
Let's be honest Bihar ain't gonna develop anytime soon... Or ever the caste politics is too prevalent there...
bro exchanged the i and a in his pronunciation.
@@carolusmagnus1472what "pajeet frustration"?
How would you feel when someone mispronounced some place in your country?
And what frustration? He's pointing it out and the video maker acknowledged it
What's so funny about it
Does it have anything to do with spring or spices?
Back then, China was the front runner in the FDI race due to the advantages it had (education, policies, population, etc). Today, India has to compete in a very competitive field against other countries, especially those in Southeast Asia for FDI.
India does not have the infrastructure to even compete with Vietnam, Indonesia let alone China.
I agree. Southeast Asia is India’s true competitor at the moment, not China. Especially since Southeast Asia is heavily plugged into Chinese supply chains, which make them the natural choice for many manufacturers.
@@diesirae7102 The only country in SEA that could rival India in manpower concentration is Indonesia and they are hamstrung by terrible geography (in a supply chain sense - all the islands don't help). Vietnam has clearly been ahead of India in realizing potential in manufacturing but thats because it got its act together first - India's potential is still bigger.
India is a competitor to China both from the low and high end in the sense that they have the potential to take away manufacturing jobs due to lower labor costs, but argueably they have been more successful in taking away the service-sector jobs that China truly needs to escape the middle-income trap. Lower costs (Bengaluru is a shitload cheaper than Shenzhen), better English proficiency, and (for tech) less of a need to silo off operations given recent laws in China, this is before the recent geopolitical instabilites that make China less favorable.
@@MattY-ed1ep Invalid comparison. India does not have the centralized system that makes investing in a single country advantageous over a multi-country bloc. Getting approval in Delhi, to manufacturing in Assam, to programming in Tamil Nadu, to marketing in Maharastra is no different than doing all of that in four different nations. Those states all have different rules, different languages, and to top it all off, different politicians you have to bribe.
India isn't competing against any specific SEA nation. It's competing against ASEAN as a whole. Investing in "India" isn't investing in a single nation, but a collection of 27 states (and 8 union territories). And if I'm a FDI, ASEAN is far more attractive as a destination than India.
@@MattY-ed1epIndia hasn't been China's competitor for a long time. Indians like to see themselves as such but hardly anyone in the world sees that. China outsource its cheap manufacturing because wages have increased significantly and it's not a place for cheap manufacturing anymore hence why the shift to SEA.
Great analysis. As a indian my view is the culture. Culturally not inclined to give importance to quality education which leads to electing wrong politicians which leads to failed system in a bigger scale.
Take a look at the record of Chinese performance in the Physics olympiads. A yearly international competition of high school scholars. They have by far, attained the most gold medals in the history of the competition. In second place is Iran. The Chinese are in a league of their own.
The fact that Iran is second considerably discredits the real world significance of this.
@@matiasmontaldo2616 It is to laugh.
@@matiasmontaldo2616 100% this.
China's performance in International Math Olympiad is even more impressive.
but its' all ancient Indian technology our ancestors discovered gravity when they pooping out in the field. that was before the Newton apple. our ancient technology like rocketum, vimana. India is the best country saar.
I am a doctor from India and your video is really informative and insightful
Bro where to get fake mbbs degrees we want to open hospital
@@jaishree701 UPI money to Modiji’s NTA NEET setup and get a seat!
@@DevKulkarnibot propaganda here too damn learn English first bot
Are doctors also human ? One of my friend was doctor later he cleared some government exam and now he's a postmortem Expert and believe he often ask me crazy questions like what is life ? 🤔
@@blazingguyop Lol kaash students ke paas adani jitna paisa hota bot chalane ke liye. Fir Modiji aisa mazak nahi karte students ke saath.
The biggest flaw of a lot of Western liberal democracies is that it can be hijacked by money. Just like the video said, they're afraid to raise taxes, because that would upset the rich. People vote for their own self interest, and not for society's best interest.
perfectly summed up
On the opposite side, CCP is hijacked by Xi's self ambition and not the people's best interest. People's livelihood starts to feel the impacts and the country's economy is falling apart.
You cant compare western countries to India. There are way more issues than you can fathom.
Some of these Western democracies have socialist elements of social security nets. You're referring to hyper capitalist nations like the US here.
especially when the population are poorly educated and live hand to mouth in destitution. corrupted politicians will always lie and bribe their way to power, after that, they are literally untouchable by the law.
I am Chinese, and we often discuss the differences between India and China.
Basically, the key word always falls on whether there has been a thorough land reform. Landowners in India have cut national land into countless small pieces that cannot be developed as a whole. This has resulted in the loss of basic guarantees for all power and economic operations.
China also has corruption, but usually the problem can be solved quickly if you deal with the big boss. In India, power is too decentralized, and corruption increases exponentially, making it difficult to solve actual problems.
I don't think power is too much decentralised in India.Instead it is too much decentralised in China.
Government expenditure at local level is more in China than India.
I think main problem in India is about mindset of people.
India is family oriented country.So whatever an Individual does in India he does it to his family.He do corruption so that his family can live happily.
But in countries like China people are more individualistic.
@@shrihari6860 absolutely stupid reply, taking bribes for family. Bribe is a part of our culture and is a problem. But actual issue is mediocre mindset of our people. We want to earn sitting at our homes, politicians knows that and earn vote theough this. Hence no development.
@@AnkitKumar-ww7tc yess people wasting 16 lakhs in btech and when they go to market they found no job available for them and doing rikshaw then come to delhi let me show u some phd holders
China competes with america
Meanwhile India competes with pakistan 😂
Nope....india is coming up for sure , it will take time but it will be big....
I am studying economics at university. I used to think it was boring but for whatever reason I now find it really interesting. I guess that’s what happens when you become an adult. Anyway, your videos are so informative and interesting. I hope I can be as knowledgeable as you one day.
What I failed to understand about finance as a kid was that it is the symptom of human stories. Numbers alone are rarely all that interesting. But when numbers tell stories.... That's pretty cool.
@@CaedenVEXACTLY I feel the same nowadays
I like the explanation how the puzzle comes together, why some country take a certain action, why a certain trade deal affect the population, and more importantly explain why a certain decision out there far away will impact my personal life and future or shape my past.
Life aren't just random waves up and down hitting me, it happens because there's a stone dropped in the past and it's wave hit me just now.
@@CaedenV Yeah once you are able to detect the narrative in every number: a story of policy, psychosocial dynamics, power, greed, conspiracy...it becomes alot more interesting. The dots begin to connect.
Great to see an open mind here. However, you please be aware of the blind belief in capitalism and democracy in Western countries. China's hybrid system is very worth noting in which the state-own and privately own companies share roughly 50/50 of the economy. The government can influence the directions of the economy which strives by private sectors and furious competition. US economy benefits most the riches. China economy benefits the majority of the people.
India doesn't have to grow like China, it just needs to keep growing.
Finally, someone said something sensible
送你几句话
师夷长技以制夷
三人行必有我师
取其精华去其糟粕
闭门造车夜郎自大是没有前途的😢
@@shenshixing1949I'm taking your words 🙏🏻❤️
@@allfintalkFinally yes someone said it
You just summoned an entire nation.
I am waiting for the horde of 1.4 billion angry Indians 😬😬
The jeets will be pooping all over this comment section soon unfortunately.
@@elidrissii Just say pajeet
@@elidrissii it's interesting how you yourself are insulting but have already victimized urself first to defend urself.
@@sahilsingh6048 Gets censored by Google. Comment hidden.
I don't see India having any "miracles" in regard to its economy or government in the foreseeable future, but I think in the long run India's growth model is much more enterprising in a way that is sustainable for a gradual, permanent enrichment. I think the India we see today is still in the midst of growing pains with the shadows of British Partition, Castes, and Civil Strife heavily weighing down modern politics. This is a symptom of a nation addressing its problems head on rather than adopting a palliative solution, essentially laying the groundwork for a powerful Indian culture and economy in the future, especially adaptive at surviving a polarizing world between the east and west, India is ideally located both geographically and politically to thrive in the uncertain global trade of the future.
India is a superpower, number one in the world, China is just a developing country and cannot be compared with India
This is the most satisfying, in-depth and concise review of India's economic situation that I have ever seen! Please keep up the great work.
Democracy is about what’s the most popular not what’s the best, if anyone mistake the two as being the same, they are idiots
Democracy just like celebrities in Hollywood 😅
Democracy is poison for india.
Socialist democratic centralism combines the best of democracy and meritocracy🤩
Who can define what's the "best" then?
You're right, but often, what's popular is also what's the best. In the end it just depends on whether the people are well educated.
Authocracy is about what's best, but only what's best in the opinion of a select group of people that you can't change.
Whether the people's opinion or the dictator's opinion is what's "best" depends from case to case.
But in democracy's case, at least it's possible for there to be a change of course if things get really bad.
Glad you mentioned Dr. Pettis, Joeri! What do you think of his book Trade Wars Are Class Wars? Also, would you consider doing book reviews?
Please tell me which country can grow like china .
Under Indian Prime Minister Modi, India ranks 115 out of 125 countries on the world hunger index, India has 42 of 50 of the world's most polluted cities, 125 out of 150 nations on the GDP Per Capita PPP list, biggest income inequality in100 years, record unemployment, 95% of educated Indians are unemployable, low practical engineering skills, historic low of the Indian rupee against the US dollar.
@daria_morgendorfferrr fraud kar ke aayega
Hunger Index is propaganda. Try Transparency Index.
@@val-schaeffer1117 Everything showing Bharat in a poor light is propaganda when the ground reality supports the index. Next, you'll say GDP per capita is high when it's among the lowest in the world.
@daria_morgendorfferrr He's a Class 7 Gujarati medium educated misfit who has lowered the intellectual, moral and cultural standards in this country.
@@val-schaeffer1117 grapes are sour, right?
Half indian half serbian here. I must say its only once i visited india (dehli and mumbai) and i will make sure thats my last time there. Places are so dirty air has so much pollution, infrastructure is ass traffic is everywhere people are everywhere, overall it was a horrible experience and i like it so much better here in poland (its where i live)
Sadly😢
inb4 the indians find this video
count me inn!!
@@mohdfakrullah8887 shut up, Pakistani
It's all Pakistan's fault.
We are already here damn it! But need to watch the video before dissing it. Ugh.
@@CirclingDuck🇮🇳🤝🚽
▶Summary of the "Rising Bharat Summit 2024"◀
According to Professor John Mearsheimer,
USA superpower? ✔
Russia superpower? ✔
China superpower? ✔
India superpower? ❌
🤭🤣
I would be surprised if on median income level India at least comes to a near match up with neighbouring Singapore - the smallest city state nation.
@@PeepingTom-xy9di Talk about basic hygiene first, then you may mention income.
*Title of article/research/report:*
Progress on Drinking Water and Sanitation 2014 update
*Global Source:*
UNICEF
*What article said specifically:*
India continues to be the country with the highest number of people (597 million people) practising open defecation (Fig. 17).
India also lacks in other aspects:
1. Supply chain
2. Public Infrastructure
3. Safety
My friend who makes parts for Apple said that Foxconn recalled many of its staff back that were stationed in India back to China, because two of their male higher ups were raped while going for dinner. (It wasn't even late night but around 8-9pm)
Thanks for taking us to school, appreciate your analysis, we will work on it..
The female Spanish tourist that went to India together with her husband is an influencer who bikes around 60+ countries around the world including Muslims countries like Afghanistan or the Taliban (She took a Taliban selfie?) and she experiences no harm or hostility. All the locals were hospitable to her and her husband. It was only when she made the fatal mistake of visiting the "R" capital of the world, |ndia (79.8% Hindu majority country), that such incidents happened. Dumka was the place where the horror happened, and it was populated by 79.06% Hindus and 8.09% Muslims (Census 2011). Try to make an educated guess what is the religion of the perpetrators and why special rights/privileges were there to protect their identities?
Yooo, you just generalized an entire country!!
Your spot on 😉
@@AZ-rg3rf Indian hall of famers: The men were identified as Sandeep Pawar, Mangesh Kamtekar, Akshay Kamtekar and Ramesh Ghag, all locals. They are charged under India’s Wildlife (Protection) Act 1972. A local court granted................Hindu Pride of India. 💪
@daria_morgendorfferrr Thank you !
@@ShitSkinsIndianhere's a another Bot, with username of "ShitSkinIndian"
Thank you for bringing a lot of interesting ideas to compare the economy growth between and China. I think you have already found some great points, but you probably have not done deep research into either China or India's culture and history, so even what the Indian professor's said are just the iceberg on the surface of the sea, but not in the water.
You made great points that Education, liberalization, investment-led growth and FDI are major points, I tend to agree with you. but there are good root cause behind.
China has the largest economy over the world for most time during the past 2000 years, and it has been a united empire for more than 2000 years, only except it was defeated by UK in Opium War in 1840 and since then, China fell into many wars and was seriously harmed by imperialism and fascism Japan in the second world war. China was able to recover by revolutions and got independence and then after several decades of trying error China was able to go for reform again and open to world economy since 1978.
Compared to China, India was a symbol of culture on this peninsula for many different races and countries, and thus India was not a united country for most of its history. It is a mixture of local indian/south Asian races, aryans , mongolian Islamic and many others, they speak for different languages and have faith in different gods. There has been no unified Inida, until Inida became British colony and the British governors made India to be a country and they declared independence then. From start, the upper class of India has considered themselves to be westerners of Indian descent. which has also mixed with India's local caste and became a major obstacle to economy and education development.
Any other Asian country can develop faster than India if they are given the right chance and right policy, and governance, such as Korea, Vietnam and etc. Things are just harder in India. US politicians tried to use India to contend China, but they are wrong.
China has actually got a quite complete industry base and good education even before the reform in 1978 and open to the world and start its import -export labor intensive process industry, such as cloths , toys. the industry base was largely setup by the need of national defense against both US and Soviet Union between 1960~1976. Both US and Soviet Union had wars with China indirectly or directly, and both declared to throw nuclear weapon to China, so China built its heavy industry including all kinds from mining to iron/steel to fertilizer to car/truck factory to cotton mill and clothing factory, all of that was managed by nation owned enterprises, and lack of the freedom and liberalization in market economy.
Since China has many people including scientists and economist abroad, they brought back the ideas of working in market driven economy and brought back a lot of FDI since 1978. the City Shenzhen was built from a fisherman 's village and soon was turned into a booming city and now it is already one of the largest city in China, Shenzhen's GDP alone is higher than Taiwan.
Napoleon said, "China is a sleeping lion, once it awakens it will shock the world". India was also very rich at the time of Napoleon, but it was not a united country, and it had no way to protect itself and soon India fell into British colony.
If you travel to China for a few weeks, you may soon realize China has over 1 billion people can talk in same language and read same Chinese character and most educated people (also about 1 billion) can read history books and ancient Chinese stories back to 2500 years ago, because of good education, this is very much alike to the fact that in US and Europe, students were told the history of Greek and Rome. China has also been the single only one, culture in the world, that has never been discontinued in history. ancient Greek, ancient Rome, ancient Egypt, Babylon are no longer there, the people living in these places are talking in modern language and has no way to read their ancestor's history and books. This unique advantage has given a lot of ambition to China people to have consensus on the country and culture's future, and people are willing to help others even if they don't know each other, so you can see a lot of China people already in foreign countries still believe they are Chinese, while Indian people in US/EU, think they are already north American or European. this helped the super rich people to have heavy donate back to China to help education and economy development and share their great ideas and insights to China government to help the people that talk in same language and share same history and value.
"Run Run Shaw" is one of successful merchant in Hongkong who donated a lot to China universities, you can see his names on the buildings everywhere in different universities of China. and many China students are proud of him. and some other merchants took him as example and donated in sports and science research.
Last thing I would like to add, is China government people love to study and learn from western countries, and from Japan too. you may see China state-owned banks had reform in about 1994 and got investors from US and these successful US banks helped China banks to do structure change and reform and how to do business, China is nothing like communist, it is just like a culture based unity. and China is in many aspects , has less restrictions than US, and embrace more to free market , free trade than US. and surprising, if you check how many people in China has ever learned English, the number is 1.1 billion, it is much higher than total population in US, and higher than those in India too ( it is about 120 miliion in India) . China does not appear to be an English speaking country just because most students only know how to read/write English, but they don't speak English very well, but things will change. if you look at technical/scientific papers in the top journals, you will see more & more are written in very good English by China researchers /students. and more and more China students from top universities can speak English, tell jokes in English and go to top universities in US and Europe too, and still think they are Chinese.
Absolutely true. I am an Indian and every point you made stands true.
half true and half not
评论区不愿意承认中国制度的优点，不然就觉得是被打脸。有时候真觉得西方媒体的宣传挺有意思，但是意识形态斗来斗去是真没意思。
中国人没兴趣去比较制度谁高谁低，人民需要的是稳定。找到适合自己发展的道路，干就完了～
没有完美的制度，有问题就解决。出生成长在中国，总之我很满足❤
BTW, India liberalisation started little late. Started 1 decade late in 1990s after Dr. Manmohan Sign became finance minister under Narsimha rao.
15 years late and India didnt join USA against USSR
also didnt kill millions of babies just for a real per capita income twice of India
Are you correcting or ?
@@otakumonkey he is just mentioning a single fact out of the numerous facts "the economist" missed
How can you criticize Mighty India? India is the greatest country in the world, South Asia is all India! India is the main supporter of Israel, India's largest economy! Don't just talk...
Spoken by the most intelligent and highly educated BJP sympathizers
China's real estate is a mess 😂😂 watch David Zhang
@@abracadabra16234every country has problems for India they are a lot more than China's. Also the same with European real estate
Probably the most compelling and comprehensive analysis by any western economist! I live in India and his analysis is spot on. Also, this is the most fact based and unbiased analysis I’ve ever seen about India! Thank you for making this amazing video! 😊
India has chance but very hard to chase up. China has mature chain of any industry. Educated workers and engineers.
Now Chinese companies are turning into high tech industry. like Electronic device and EV. AI. These new tech bring huge profit and tax. If Chinese company break thru the microchip tech. the gap between china and india will be bigger.
As a chinese, i can tell you honestly China never compare to anyone. Our goal is making every Chinese living in good life.
Little advice: things are political in India and listening to Raghuram Rajan, who is noted against the current political party is not going to help you. He said India would be lucky to hit 5% growth in 2023 and it posted 8.2%.
I wrote the same thing, being former governor of RBI, how could he be so wrong about GDP growth 😂
@@Tonad_Drump Raghuram Rajan is just a neoliberal shill. I used to respect him because the news only covered his adroit skills as Governor, but his interviews latelt shows him how hypocriticial he can be.
He loves fearmongering to the population by badmouthing the incumbent government everytime... "Le market will collapse! GDP growth will soar!". Hopefully people will realize that the mutt just loves swimming on his luxurious pool stratifying the population for an agenda to get his foreign globalist institutions more money.
India has a history of faking their growth, providing inconsistent data.
@@Tonad_Drump he is right. Growth was around 5 percent. Government lied and made it 8 percent..
As an Indian I am accepting all your claims bro and also India is not just stuck with this problems specially South Indian states already showing great growth in both economy and education to so I believe we will develop in our in way Speed
Remove the south and you get sub-saharan levels of poverty
我爱你印度
MoneyMacro could you make a video about Premature Deindustrialization and the rise of automation and how these two will affect developing countries in the future? Thank you.
That is a perfect and well-balanced explanation. Rather than resorting to often repeated generic reasons which are usually given by Western observers who are disconnected from the ground realities of India, this analysis based on the work of two eminent Indian economists points out the so many actual problems within the Indian state that have to be solved with close synergy among the central, state and local governments. The growth achieved after that will be long-term and its consequences permanent, much like the United States, which grew over 2 centuries and not just in 40 years.
Indians were saying that China is debt trapping countries? Source: "Decoded: China's debt-trap diplomacy (WION)". Instead, India buys so much of "made in China" until China became their largest trading partner? Did India unknowingly/knowingly did that? This does not makes any sense saar.🤭🤣😂
Never trust jeets
Actually, it was Indian analyst Brahma Chellaney who first coined the term debt trap. Western media later picked it up.
Are u Nepalese or Bhutanese?
Why don't u focus on your miserable country?@@subasthapa4839
Do u live ur life solely to defame India ?? Where do u get all the time to do this , get employed do something for ur parents and live an unstressed life 🤡
@@themosqtosaitamacouldntkil5603 I literally provided the source whereby your media said that and you're saying that I am defaming India? The shamless can't feel shame indeed. Indian culture. 🤡
Fundamentally China has a homogeneous population with similar aspiration which helps China's authoritative govt to take bold and firm decisions. We in India, on the other hand, are a too diverse where each set of people have totally different and sometimes entirely opposite aspirations. Any decision or policy in India would be shortsighted as elections keep coming regularly and it needs to take along group of the society. Hence we can never achieve such rapid pace of growth. But whatever growth we get are small steps towards building a common consent and the coming generations will reap the benefit of a well-developed strong stable India.
Judging from China's experience, you only need to unify the language, culture and education, downplay the color of bullying, downplay religion and downplay neutrality, and repeat education for 20 years, and you can get a very United India. Commonality is the foundation of unity. I don't know if translation can be accurate. Translate what I mean.
@@刘东刘-r7stry even one of these things and you will have riots on the very next day and can go on for even next 2 years with the funding of foreign countries like USA and Canada . We have played the same game way too many times . We know what our enemies and partners think about us and we are becoming powerful to make our enemies and partners think twice before starting anything serious with us. That is our method of piece .
There are 56 ethnic groups in Chin, where have they homogenized China Buddhism, Taoism, Christianity and Islam?
@@gsyoouI'm not talking about assimilation, I'm talking about translation. I mean to make the society have a common cognition through education.
This is what I also think is the main reason...
我是中国人，我的大学同学去过印度旅游，他说泰姬陵很美，但周边都是垃圾，这在中国是绝对不可能出现的
我觉得印度人可以先把小事情做好，然后再慢慢制定更大的目标，没有一个国家的发展可以直接飞跃，但可以一步一步完成
Well that is the biggest problem in India and people didn't even acknowledge it in cities it is surely the garbage problem people really throw plastic on road wherever you go their homes are as clean as a house should be but the streets are not
they dont care. everyone think its not their problem.
Very insightful - thanks. Here's another nuance - let's be specific about what local government means in India. It is a city municipal corporation ( elected officials) or a district government ( unelected bureaucrats). The largest cities are often a huge part of their respective state's GDP. There's no way that a State Government will cede power to a city Municipal Corporation even if the same political party is in power. FDI wants to go the the large city predominantly, while the State Govt is often run by the more rural politicians. City infrastructure has been held up for decades due this lack of alignment
india loves drama and politics and bollywood and fighting with their neighboring countries about bhasmati rice. that's what they prefer to do instead of developing their own country and helping their own citizens.
basmati rice !!!😆
😁😅😅🤣
Good!! India does not need to grow too much if anything it needs to reduce its population!
typical and boring narrative from a Westerner...
As Chinese, every time I see Indians and Westerners talking about why India lags behind China, Why have you never asked the Chinese for their opinions? In particular, Westerners have had high expectations for India for half a century, but the West has never regarded India as a serious challenger. India even easily lost the 1962 war with the support from both the United States and the Soviet Union, now we even see that democratic and free India is even unable to compete with the CCP also economically.
Remember, India has never faced serious international sanctions, but the PRC was sanctioned by the capitalist camp led by the United States from 1950 to 1979 after the Korean War, and PRC was also sanctioned by the socialist camp led by the Soviet Union from 1959 to 1991 due to the Sino-Soviet Split. The CCP was contained and sanctioned by both superpowers for 20 years from 1960 to 1980 simultaneously, the PRC was poorer than all African countries due to sanctione from both the first world and the second world led by the United States and the Soviet Union.
If we also include the warlord melee that took place in China from 1911 to 1949, the large-scale massacres by the Japanese army, and the civil war between the Chinese Nationalists and the Chinese Communist, Millions of houses were destroyed and tens of millions of people died. The Indian independence movement was not that tragic, right? it can be said that the starting point of the Chinese is much lower than that of the Indians, but why did India win at the starting line but quickly lost on the halfway?
Because the capitalist regime has never dared to touch India’s core social system issues, let me point out a bloody reason: because India did not go through bloodshed of the national and class liberation struggle, Indian independence was through the mercy from the British colonists, from the so-called the revolution of "non-violent non-cooperation" then achieved independence. The Indian nation is only superficially independent, but India's ruling class and social structure are exactly the same as those of British India. This is the most fundamental reason why India cannot achieve the development speed of China. While all the anti-communist media ridiculed and hated Mao Zedong and praised Deng Xiaoping's liberal reform endlessly, have you ever thought about why China still could develop better than India despite Mao Zedong being so bad for 30 years? Because Mao Zedong overthrew the three mountains that oppressed the Chinese people: imperialism, feudalism, and bureaucratic capitalism. The Indian National Congress only drove away imperialism, but feudalism and bureaucratic capitalism never disappeared, It is even more bound up under Modi’s right-wing fascist religious extremism BJP.
Therefore, if India wants to challenge China or even the United States in the future, India must first sacrifice tens of millions of lives for revolution. Otherwise, when India challenges and threaten China with Western help in Cold War 2.0, Nehru 2.0 will encounter a more ruthless attack from China, And this time the CCP is not agricultural China but industrial China. Because China is no longer in 1962 anymore. The GDP between China and India was almost the same in 1962, but today the gap between China and India has become five times. OK, would you dare you support the revolution of the Naxalite Maoists? ? I know that it is useless for me to say so much. It is impossible for India and the West to support the Indian Maoist revolution. Then India will never catch up with China in terms of development speed.
Tip: Nobody will read nor care about your fantasies, you better grow up kiddo 😁😁
@@Isjshdkskskajsj yep that's why India will keep lagging behind China for next 70 years
@@Isjshdkskskajsj i read
I suggest no one read it because truth hurts.
lmao yours is even more boring than the video with a bunch of words salad.
Sacrificing millions of lives does not equal production. North Korea and South Korea is the best example.
Also greed is endless, by your logic China can rises even further beyond now with the Great Leap Forward 2.0, but China didn't😂
I am an Indian and I agree with 100% what you said or Raguram Rajan said
addme
Next 15 years is going to be critical for INDIA they make use of this golden opportunity or BREAK IT .
I'm in TAMILNADU which south most state of INDIA and 2nd highest GDP generation state and her you have almost all automobile company manufacturing plant and Foxconn has biggest manufacturing facility outside CHINA and it is located in SRIPERUMBUDUR, TN .
And TAMILNADU has 46 SEZ special economic zones which is highest in the country .
TN has 16 engineering college in Top 100 and 33 arts & science institution in top 100 institution list released by indian union government .
TN is ready for its growth story .
Good that the video and the cited sources are willing to address the non-PC idea that democracy is actually one of the factors holding India back. For comparison, most of the East Asian dynamic economies rapidly industrialised (or reindustrialised after WW2) under either outright military governments or else effectively single party governments.
Yup, including Korea and Taiwan.
Classic example is POSCO of Korea trying to build a factory in India. After 10 years of paper work they left India, even though they had the best technology to exact that type of COAL
National average IQ of India = 76 and National average IQ of China = 104. That is why most of the key technologies are dominated by China eg. Consumer drones/ EV cars/batteries/ Solar panels/ infrastructures such as HSR/Bridges across oceans/ rare earth mineral extraction and refinning etc. The list goes on. Furthemore, China leads the world in 37 out of 44 critical technologies, according to a report by an Australian think tank , "The Australian Strategic Policy Institute (ASPI)".🤭😅🤣😂
Indians constantly blaming politicians shows you their inability to actually find what's wrong with them and their culture. it's not the politicians. lol
인도 평균 IQ가 83이 아니고? 인도는 교육의 질을 높혀 인도인들이 더 똑똑해지는 것이 필요한 것 같다. 중국인들은 세계에서 가장 어려운 언어와 문자를 쓰는 덕분에 머리도 좋아진것이고 전통적으로 배를 굶주려도 아이들을 학교에 보내야 한다는 생각을 갖고 있는 사람들이지. 영국의 바오처 클라우드에서 통계한 중국인들의 IQ는 105.8로 세계에서 가장 똑똑한 인종이라는 것이라고 밝혔다. 홍콩의 IQ가 108이지만 홍콩도 중국인들이기 때문이지.
不要把IQ太当回事，它与人在幼年时期的营养水平和教育水平有直接关系。
@@ruoguu All sources on the internet say 76 on the average.
@@黄语 The results speak for itself.
India's primary problem is less payment or salary, 'India produce genius peoples' but they leaves India ASAP when they get better pay job in foreign country...
I'm a 3D animator (learner/student)
I learn from a neighbor uncle, they are two brothers and young brother learnt both game animation and acting animation both, and works in a South Korean game studio, because Indian companies doesn't pay much, even some Animators with like 10 years of experience earns like basic INR 40'000 while in other countries it's twice or thrice, my teacher himself earns like INR 60'000 with more than 15 years work of experience and top of that, he leads a team as a Leader.....
This is the best description I've seen on the topic.
Note: I'm neither Chinese nor Indian, but I'm familiar with business in both places.
Not the best description as he ignored the basic factor that drives the economy of a country that is middle class. First of all, politics and economy or money are two very different things. The economy of any country depends on its middle class population, at what rate it is growing, how much their middle class population is increasing. And now the middle class population in China is stable, only their income is increasing, so China is largely moving towards slow growth. In USA this middle class population is neither increasing nor their income is increasing, hence the reason behind their slow growth. In Europe, this middle class population is declining and their income is stagnant, hence the growth is declining. In Korea and Japan, the middle class population is decreasing very rapidly and the income is stagnant due to which the growth there is also falling rapidly. But when we talk about India, the middle class population of India is increasing and their income is also increasing gradually and when this level will reach the level of China in 2000 which according to me will happen by 2035-40. Then India can also show growth like China and remember one thing of mine, there is a huge difference between economy and politics. And also remember, a company come to a country if the country has substantial amount of people to sell its goods first in same country then outside. Economics of a country is very complex subject and it involves lots of complexities, and the main component to judge the economy of a country is to see the middle class population and the ability of governments to complete there tenure. As rich people saves the money, poor people don't have the money, and middle income people spends most of the money, and the economy of a country is dependent on how much money the people in that country are spending on goods or services.
@@AbhishekSingh-jf7co I have no argument with what you wrote, however, you assume the middle class growing or shrinking as a given. There are factors that cause growth of the middle class, which is what the video dealt with. India's poor won't move to the middle class, regardless of population size, unless these factors are present.
Politics, as you said, of course are different from economy, but politics can hinder economic growth.
I don't see anything is grossly off by what he explained. This comes from an outsider that does business in both (though more connected to India than China).
@@charles5a I am talking about facts that the graph of middle class population in india is increasing and there income is also increasing gradually, soo in future if it continues there will be a time come when the companies will look to india to sell there goods in india first because of the large middle class population in india and in my opinion it can happen by 2035-2040. And i know there are lot of problems in india, but its also a fact that its middle class population is also increasing year by year. As a large pool of middle class people spends more in education, healthcare, roads and other things for the next generation and it will improve things to some extent. And also u can't deny the fact that india's middle class population is increasing more fastly than china, whole europe, usa, korea, indonesia, asean, vietnam, etc. And also, i agree india has many many problems but still india's middle class population is increasing its also a fact. Any country economy is dependent on the people of that country, as how much are they spending in goods and services? And also as i said, Rich people saves the money, Poor people don't have the money and Middle class people spends most of the money.
@@AbhishekSingh-jf7co The problem is India's middle class is minute, compared to the others that you mentioned. Percentage growth looks fantastic when it comes from a tiny base. I'm not sure your 2035-2040 prediction is well supported, though I hope you're right.
My own views on the risks to India's prosperity:
- Extremely bureaucratic for no discernable reason
- High ethnic, religious & class tensions
- Rigid management structure by habit/cultural expectation (it takes months to train people in my org that they are expected to bring objections when they see them, and many never get it - "yes sir" mentality)
- Caste system still holds outside the main cities (didn't take advantage of such a large population)
- Educated class too tiny as a percentage
@@charles5a I am not talking about the percentage but i am talking about the amount people in middle class adding up in a year and also that amount is increasing year by year and that will drive the growth of the India in future and in present too driving it. You can never change things overnight, we need to give it time and in the coming times, India is becoming a big market of the world where companies want to sell their goods. That's why I am saying that by 2035 or 2040, India will have a pretty big middle class like China had in the year 2000. The point to be noted here is that I said that there will be a huge rise in the middle class, this does not mean that there will be no poverty, there will be poverty too and there will be many other problems too. But because of this growing middle class, India's economy will remain more stable and when the right time comes, what we have been trying for in the last 20-30 years and after next 15-20 years, that right time will also come. If we want to understand the current economy of any country and its future, then we need to look at the middle class population of that country and their income to see if both are increasing or not. And in India, they are growing towards a good population which is making India a bigger market. I just have one fear and that is the fear of AI, Amazon, other big shopping sites and what impact it will have on India's growing middle class. As I said, this video starts at the wrong place, no one can tell what shape an economy will take in the future. And also economy or money of a country is basically very different from the things u said or the thing which has been said in that video, as ray dalio is not mad, he understands more statistical and fundamental data than this man in video. Economy is a very vast subject some group of people or a single man can't explain, so u need to listen both parties then u have to make a conclusion and it can be wrong too.
Biggest issue is the class division. A huge wealth disparity is hurting india. And the 2nd biggest problem is lack of accountability and morality in Indian culture and this can't be changed on a whim, decades can be required. No one here follow laws and no one wants to be accountable here for something , from general citizen to high level politicians or officers. NO ONE.
Last time I was in India, it took me 1 week to get a SIM card
One week for a SIM card 😳😮
@@saneeshkaithathara4241 No kidding man, I almost gave up, they gave me every possible excuse for not able to sell SIM card and internet service to foreigners. I actually had to look their regulations up and show it to them to convince them to sell me a SIM card
It takes literally 30.minutes to get a sim card for an Indian.
Now you can get sim card within a day
i am guessing it was a decade or so ago , now its a matter of hours in not minutes! They do home delivery in 3 hours for fuck sake!
Speaking as someone who did business in both India and China, including building factories and meeting with public officials, India and China differ in one major aspect that is the root cause of all the differences cover in this video. And this aspect will never be covered on RUclips since it would be confused with racism.
The main difference between India and China is their culture.
The Chinese, as a generalization, are technical, systematic, precise, and highly comfortable with hierarchy and authority.
But Indians, in general, tend to round corners, stray from plans, focus on unimportant details (or don't focus at all), and have a hard time integrating into a hierarchical system where everyone knows their part.
Even if India had the money or China's centralized government, they would struggle to find the execution capability at the base of the pyramid but also all the way up to the top.
This being the case India has a slim to no chance of ever escaping poverty.
And with the additional problems we know plague India, I would not bet on this horse.
A few major problems I've noted -
India's federal government is VERY weak. It struggles to undertake the simplest of national projects across state lines.
The Indian Administrative Service (IAS) is geared toward low-effort low-risk activities (since they can't be fired). They won't move without the state PM or Chief Secretary. Not even an inch.
The Indian population is very NIMBY, and politicians are attentive to this.
The state political system changes often and they refuse to start (or work on) new projects 3 months before or after an election which makes projects hard to start, expensive to run, and high risk.
Good luck India. Good luck to anybody who thinks of succeeding there as a foreign investor.
Mate, it's true we will never grow at the same rate as China but long term we will get there nonetheless, India's demographics are healthy, we are consistently growing at 7-8% YoY and all this growth is mainly coming from internal consumption which makes the country extremely resilient to external shocks
Autocracy with vision is a very ‘ sharp sword ‘ …..
The caste system is a curse created by our ancestors and casted upon the future of young Indians. We all are paying its price.
Yes the reservation system
Average IQ in India is 76 whereas in China its 99-101 so there you go.
智商测试只能反映一个地方的教育程度
IQ is more of a pseudoscience. It doesn't really say anything about anything.
Lol iq doesn't matter in development of the country
Bullshit data
@@RockyRock-vv3ex Cope harder, rakesh
India will always be India .
yep Indians create India.
From an Indian: One of the reasons why India can never grow like China is the immature politicians of the BJP (the main party) who focus on petty religion based politics instead of uniting the people across religion, and caste. Religion based politics is a major concern in the North although the South Indian states of Kerala and Tamil Nadu function almost devoid of this issue. I believe that the missing piece in the puzzle of India's growth is the cultural revolution which was crucial for China.
The key to China's economic success is that China has a great leader, Mao Zedong, who brought China into the era of industrialization. Mao Zedong is known as the father of Chinese industry.
Every month I try to allocate a portion of my income into high yield investments. But I’m curious, how feasible is it to make my yearly salary in just one month without jeopardizing my portfolio
It’s definitely possible but extremely risky. You’d have to dive into high risk, high reward investments like cryptocurrencies or penny stocks. The current state of the US economy, with its volatility makes it even riskier
I tried something similar last year and ended up losing a significant amount of my portfolio. With inflation and market fluctuations it’s better to stick with more stable investment unless you have a solid backup plan and can afford potential losses
My portfolio took a hit when I attempted aggressive trading strategies. Now I’m more conservative, focusing on long term growth and capital preservation
You’re not doing anything wrong, the problem is that you don’t have the knowledge needed to succeed in a challenging market. Only high qualified professionals who had experienced the 2008 financial crisis could help to earn a high in these challenging conditions
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful
I thought you would mention the way China liberalized their economy using special economic zones at first. So, my understanding is that they could fine tune their approach in the first years, and then apply what worked to the rest of China. In the case of India, I don't see why they can't do the same.
India has these zones as well. Many countries do. I suspect it ultimately matters how the incentives are set up for the management of these zones
@@MoneyMacro Chinese leaders during the booming years were also putting on an act to western leaders, and it didn't impact their image back home due to media control. Indian politicians can't do the same, they also often go to protectionism as well.
India did, and still has many SEZs ( special economic zones), except for the one's in the information technology sector, most didn't do as well as in China, because of the reasons mentioned by jori.
@@MoneyMacroYeah actually India has many SEZ's compared to China, but due to the bad infrastructure and as yiu mentioned non cooperation of the local government it wasn't able to take off. You can check out Abhijit Iyer Mitra's work on this and why India is being held back, it's more than what you discussed in the video.
@@lolasdm6959 Jiang Zemin
I honestly think India is running out of time. One of the biggest factors with China's growth was the high amount of young working age people at the time which gave it unparalleled manpower. India's fertility rate has already started to drop, and in just a decade or two it might miss the train completely.
Great analysis as usual Joeri.
I'd like to point out that India's liberalization strategy was starkly different from China's. While in China and other southeast Asian economies the state played a key role in the growth process the Indian state distanced itself from business in sort of a neoliberal sense post the reforms of 90s. [Politics of economic growth part I & II, Atul Kohli]
This is one of the key reason Indian has failed to industrialize and is likely to de-industrialize very soon. [Has India deindustrialized prematurely?, R Nagraj]
the main difference is "Mentality" that's where India fell behind. keep everything aside. in terms of mentality India is still 200 years behind than the Chinese. it makes a huge difference overall
Lee Kuan Yew:"Do not talk about India and China in the same breath."
lee kuan yew was just a HAN CHINESE RACIST SUPREMACIST loved by the HYPOCRATIC WEST
He is also a prolific racist
I truly appreciate your non-sensationalist, balanced tone and straightforward, well put together discourse.
Only place india can outgrow China’s economy is in Bollywood movies 🍿
I acknowledge that it's very difficult for India to grow exponentially like china but still it's not impossible. Our country needs major reforms, the government especially and its policies that make it solely impossible added the worst education system we have. A little improvement in people's mentality and mindset will help too. Nothing is impossible if we all can do
인도는 모디가 아닌 등소평이 필요해. 중국의 성공은 등소평 때문이지 모택동 덕분이 아니다.
@@ruoguuYou got full after eating five doughtnut and you regret to say: I should just have the fifth doughtnut to be full😮
Liberalizing will make the economy grows faster is just a propaganda. To liberalize, to control, and to make the right timing of both the two are all parts of the instrument usually implemented to make the economy grows faster.