China and India Are Beating Us At Our Own Game
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- เผยแพร่เมื่อ 7 ก.ย. 2024
- John Doggett, senior lecturer in management, McCombs School of Business, The University of Texas at Austin, warns us to be careful what we wish for and not to make assumptions. His history lesson explains that after WWII, much of Europe and Asias infrastructure and industrial production capacity was destroyed. For a short time after, the U.S. was the only source for manufacturing. For the next 50 years, we assumed that developing countries would always be poor struggling economies, incapable of producing innovative products that could compete with us. We were wrong.
During the Cold War, we evangelized about capitalism and free market economies. In the mid 80s, CNN and satellite communications made it easy for the rest of the world to see that our standard of living was better than communist or socialist countries. We are in a race with countries that have bought into our value system and theyre playing by our rule book at a time when were tearing our rule book up.
India and China were once the richest countries in the world. So I guess what goes around has to come around.
#reversaloffortune
mohan yah.... history repeats itself....India next superpower...within 2025
Thats karma..indian philosophy
Nice one bitch
More lies and propaganda.
If India and China start playing this game together instead of trying to stop each other...THEN THE ASIANS WILL RULE THE WORLD AGAIN!
Yeah that's right but it not going to happen
competition with each other will make both of them better
Sure now that you've stolen all the western industries. Bank robbers are successful too.
@Probal Halder exactly people are good in both countries. The govt is fucked
@Probal Halder yup .
First they ignore you,
Then they laugh at you,
Then they fight you,
Then you win.
-Mahatma Gandhi
wow
China and India are not little countries Professor :)
Rjesh RJ How? Is it geographically,demographically, economically or in terms of defense, or maybe technologically. How can you call world's 2 most populous nations of the world , geographically bigger in top 10, economically stronger , technologically advanced, more disciplined than US & Europe , demographically diverse nations little? Or may be you were comparing in terms of Porn produced, drugs consumed, racist hatred, jobs lost, economic catastrophes, mounting crimes!
Rjesh RJ indi nd china r not smaller...read geography frst..then comment....their size in top of the wrld...
The professor is being facetious. He certainly knows the size of these Asian giants. It's the self-obsessed American public that has never looked over the Eastern horizon beyond Europe.
@@rajeshrj3867 China is larger than Europe dude
@@rajeshrj3867 keep updated! XD
Brazil is four times India.
China still larger than that.
And India is itself so huge and gigantic.
Little countries!?
Tujhe kuch nahi atta hai Brazil is almost 2 of us not 4 times
Compared to China🇨🇳 and India🇮🇳, Brazil🇧🇷 is nothing. Area 🇧🇷1:3🇮🇳 and population 🇧🇷1:8🇮🇳. And 🇨🇳 is still bigger.
He starts by saying 2 little countries India & China lol and this is a professor in the us, now imagine how intelligent a American peasant is lol I rest my case.
It was sarcasm
I failed to understand the headline of the topic - "Our own game ?" Please clear the Debts ASAP before another war. People are not dumb anymore.
Also to make lives better, US believes in waging a war.
It's high time we consider scientists & Carl Sagon as gods & help the ideology of the Zietgiest movement.
-- After all I'm just an open source developer from Bangalore (India).
Unfortunately the US education does not teach much of international history or even it's own national history that it is not comfortable with hence the lack of knowledge of other countries. It is a shame though that even a University lecturer cannot go further than the the world wars to understand business and trade, nor the ideas of CNN being the major news focus of the world. CNN is not watched throughout the world, and pre the world wars their was a history that would astound you. India and China were never developing countries, they were emerging economies. India was one of the richest countries in the world, and, since ancient times was known as the golden bird.Britain's economy was created through Indian money, so much that they created the poverty you see India suffered. India although rich never invaded another country but created it's wealth by knowledge and innovation. The numbers you use, calculus, pye, physics, philosophy, .manufacturing, agriculture, sciences, medicines, plastic surgery, navigation (ancient Sanskrit Navgarth), they even had time to invent games like chess and snakes and ladder, and even the card games you know now.That was India not the poverty stricken nation that Britain stole from. However as you see, Indians believe in Karma, and yes, yet again Britain comes knocking on the door to trade. True Karma, India will regain it's position it held for thousands of years in less than the short time Britain looted us and became the nation it is now.
I hope world will make sure Britain pays off for its deed of holding the crown of racial discrimination. It's founder. Britain must pay its price for killing the Africans, Indians,......Asians for the color.
Anyway, It's too late for all this. But the world must never forget what west has done to them.
Dear professor, China is the 3rd largest country by area and India is the 7th largest...
How could these countries be little countries? Didn't do your homework?
That's why they r dependent on India and China.....a 50 -60 year old professor doesn't know the facts what will he teach to students
secular_banda innotech001 he just came out of the caves.So what do we expect from a guy like this...nothing.
he is being sarcastic.........
Its just a way of saying..little car...little bla blah. Its just sth people say randomly. Lidle means nothing when said that way in that tone.
innotech001 It was just a figure of speech. Not to be taken literally. He's looking for emphasis through irony.
India has the largest area of irrigable land in the world
Yes.
+sailesh kapair
Agricultural productivity? Abysmal !
Azzy do check india agricultural production. Please.
Ritesh Kumar
Productivity is not the only factor. Yield?
Countries like Japan have lower production but one of the highest yield. Our country needs to improve on yield.
The fuck is irrigable land. You meant arable?
by what measure they look like 2 small countries
I think it's GDP per capita.
"two little countries" haha 😂 LOL
India was so much rich in ancient times .....
India was also known as golden bird in ancient times
The guy must have been a Christian Faith preacher before, that's the way they all speak.
India and China? Small countries?
LOL 2 little countries which represent 40% of worlds population. Blackie teaching the world.
***** well Do not be racist just hate every one equally
well u two have no clue about sarcasm, because this guy made a joke, u just didnt get it.
Lol
Two little country!!! China is larger than USA and India is 7th largest country!!!
Tania Majumdar I think I just found what I was looking for, we need to talk :)
Tania Majumdar China is SLIGHTLY smaller than the US?:)
china and india....5 letters each...seems little compared to united states of America. .... silly logic isnt it....well so is what u r saying. ...he meant power n economy. ...certainly were small in that aspect bk then .... since he is speaking english maybe u should understand how it works b4 poking at it....
+TameTusker Silly check. if you count just by land mass, china is bigger. for some reason, only the US's area includes the water around it. check and you'd know i'm not BS-ing.
Tania Majumdar ekobingso sotabdi Bharot er.....
What the west forgets easily is that, Indian followed by Chona were the No. 1 & No. 2 economies of the world for the last 2000 years barring the last 150 years.
lets all work and the best COUNTRY WIN!!!!!!!!!!JAI HIND!!!!!!!!!!!
This looks like a great talk....and it acknowledges something that I feel about western millennials....they've grown up 'assuming' they're the greatest, richest, most innovative....yet...the lives that they will experience will be different from what they had assumed growing up....there will be tremendous competition....and this idea that they were more intelligent was an assumption....they weren't more intelligent...they were more murderous and destructive...220 years with war out of 240 years of independence....that's america......and now in the era of nukes..that's out of window....western millennials are going to have it pretty hard...
Professor, Can you explain me what do you mean by saying TWO LITTLE COUNTRIES? I can not understand this. thank you in advance.
Why are you so serious we got indipendence just 70 years ago . And you are compering India with USA . It's just a beginning . Soon India will become superpower .
So what if he is black he is lot more intelligent than the commentators are.
Secondly, from what I hear from my friends that are in charge of projects and what I see personally is that our Hiring Departments are failing us. Time after times I hear friends complain that they hand pick a resume only to have HR give them someone else. Evenly their projects become loaded with unqualified candidates who for them most part are there because of some sort of family relationship. One friend of mine has changed jobs twice because of this. Hiring needs to be rethought.
If that is definition of intelligence,that is not what you need,Intelligence should be being impactful & creating a vision where the society embraces the idea.It is like what lee kuan yew did for singapore,he is my all time favorite.He was a very smart guy who integrated his country very well carrying many ethnicities to his goal for his country & raised his country men's percapita income by 2000% in just 20 years.
2011 remittances were about 3.7% of Gdp and I do agree about multiplier effect. And please be very clear that I am not discounting NRI's value in India growth. My point is India is a developing country and at this point it requires any source of income it can get. In India NRI contribution is higher than global average that is helping India but it is also true that the chances of this average coming down is less as more Indians become mobile there will be more remittances to keep pace with gdp.
The fact that there are more Indians commending here than Americans tells you something
Productivity is a result of Efficiency, and not energy efficiency like some are talking right now, but COMPLETE Efficiency...if you don't know the Baselines of your business how can you improve it?... if your Equipment isn't kept and operated properly how can you depend on it?...if your organization has no effective worker’s communication & training how can you get people to do the right things?...get it? Process, Equipment, Personnel, the core elements... get the Industrial Efficiency Triangle.
Georges Ifrah - French historian of Mathematics and author of the book, The Universal History of Numbers
"The Indian mind has always had for calculations and the handling of numbers an extraordinary inclination, ease and power, such as no other civilization in history ever possessed to the same degree. So much so that Indian culture regarded the science of numbers..A thousand years ahead of Europeans, Indian savants knew that the zero and infinity were mutually inverse notions."
USA is a 300 year old country .
India and China are 5000 years old countries .
2 little countries ---> he is being sarcastic..
Meanwhile there is one thing I would like to add. I do believe that there is a parralel black economy in the country which maybe equal to current Indian economy. If govt. could by anyway curb that and change that economy into white, I am pretty sure that it will reap rich benefits for India. I personallyknow some people who are trying to do that. Most of my friends belonging to business families are trying to make their business fully in white. I believe this will help a lot.
Remember this was 11 yrs ago
@BonhommeHero You did not understand correctly. He was making a point that at one time in the past that american business thought of India and China as little countires not in population but little in the way of economic growth, he never says that China or Inda were incapable, he even states that they represent 40% or the world population.
As an Indian I say thank you to the woke libtard tiktokers and Instagram models for diverting the youth from Science to Stupidity.
His "Chakravala method," an early application of mathematical induction to solve 2nd-order equations, has been called "the finest thing achieved in the theory of numbers before Lagrange" (although a similar statement was made about one of Fibonacci's theorems). (Earlier Hindus, including Brahmagupta, contributed to this method.) In several ways he anticipated calculus: he used Rolle's Theorem; he may have been first to use the fact that dsin x = cos x ·
Website: GMOT
India is a 10,000+ year old civilization when your country was living in stone age or what.
I am actually laughing at people mad about "little countrys"... maybe someone needs to teach people the meaning of metaphor... 😂😂😂😂
I think there is some mixing of truths here. The reason India and China are doing well is because their corporate earnings or not constantly raided by CEO's and large unreal bonuses. These profits are reinvested back into the companies in updating equipment. A good pay out from cleared profit is only about 5% until a 5 year operational capital is obtained. Way more than that is being offered up as bonuses. This is why Apple and not GE is doing so well.
Yes India is to big to be a new japan but at present because of large indigenous population, India can continue growing internally with its own population serving as its growth engine which has been evident from what India has achieved till now. Maintaining a growth rate of 6+ should not be a very big problem for India and with right policies it can continue to be growing at a healthy rate.
I wish I could be as confident as you that NRI remittances will continue to grow. What I've seen overseas is that Indians settled down in Europe and North America are increasingly investing locally. The Gulf countries are trying to reduce their "guest worker" population. Better to plan for a decrease than to depend on an increase.
how wrong have these assumptions out to be
During 16 th century India and China combined .... contribute to 70% of world gdp
With India nearly 45% contributeing in it....
It's real fact.......
sombody please teach this guy some maths.....
I think the government should remove incentives for people to conceal money. Most people would rather pay a reasonable amount of tax and live free of fear or guilt. The largest transactions in India generally involve real estate. The stamp duty is really outrageous, one of the highest tax rates on real estate transactions in the world. This encourages people to conceal the value of the transaction, and that money continues to remain in the shadows. Just one example. No space here to say more!
Jean Claude Bailley - cont.
" Hindu astronomic systems were much more ancient than those of the Greeks or even the Egyptians the movement of stars which was calculated by Hindus 4,500 years ago, does not differ even by a minute from the tables which we are using today." And he concludes: "The Hindu systems of astronomy are much more ancient than those of the Egyptians - even the Jews derived from the Hindus their know There is also no doubt that the Greeks heavily borrowed from the "Indus."
Professor H. G. Rawlinson writes: " It is more likely that Pythagoras was influenced by India than by Egypt. Almost all the theories, religions, philosophical and mathematical taught by the Pythagoreans, were known in India in the sixth century B.C., and the Pythagoreans, "It seems that the so-called Pythagorean theorem of the quadrature of the hypotenuse was already known to the Indians in the older Vedic times, and thus before Pythagoras (ibid). (Legacy of India 1937, p. 5).
May be "little countries like India and China" is an Afro-American expression like in wrestling they say "little jimmy"...
The educational comparison is simple. In China and India, the parents have to pay for their child's or children's education. While, in the US, the parents taxes payment or other taxpayers, have already covered the cost of schools and supplies such as books. Point is, Chinese/Indian parents are more strict on their child's or children's education than American parents. My mother is Asian and sort of old tradition. So, I know the consequences for sacking off.
Aryabhata continued....He was among the ancient scholars who realized the Earth rotated daily on an axis; claims that he also espoused heliocentric orbits are controversial, but may be confirmed by the writings of al-Biruni. Aryabhatta is said to have introduced the constant e. He used π ≈ 3.1416; it is unclear whether he discovered this independently or borrowed it from Liu Hui of China. Among theorems first discovered by Aryabhatta is the famous identity
Σ (k3) = (Σ k)2
he said it sarcastically, the next he said, they represent 40% of the world population.
i am an indian and the statement about two little countries weren't made in a demeaning context. He was just drawing up his audience.
U don't wake up a dragon without expecting any conseq.ences
Chinese stock markets are unpredictable due to government policies, the index fell from 6000 in its peak in 2007/08 and is now hovering under 2000. Did chinese economy tank in the meantime? No, it has doubled since the GFC.
China and India are beating Us in it's own game. You are not even in the game, little Indians were studied in the university of Takshashila 2,300 years ago, where was the big us then
US actively pursued innovation to the extremes of welcoming talent from world over irrespective of whether it was at war with those countries (Russia) or those countries were poor and not english first speakers (India, China) or it seemingly had ethical issues with the country (Nazi Germany) AND creating superb R&D, edu institutions (Anthropology, Ivy League). But, it lost its way not when it gave preferential treatment to Ivy Leagues or selected financial and economic pvt. entities but when it started preventing access to quality education by high fees, letting pvt. entities rob the economy and make citizens poor with every scam/lobby, and using preventive visas (H1B) to stop free flow of talent. It is a typical scenario where America toiled its way to become world's best (with excellent measurement, benchmarks and creating standard processes) - reached the top and started feeling infallible where every country wants to be a part of it, citizens feel pride and sync Great America despite visible shortcomings and straying from the path - now, its on the decline. Wont say its a downfall but its its own policies domestic and international, interfere with it as a sink of good policy-talent.
Also, the widespread unnecessary wars just to keep its military and drug economy going, literally killed its own country. Just that its talent and culture of innovation was fostering its war, drug efforts. The moment latter started eroding the former, US growth stopped. Its more a rot than a decline.
Abu’l Hasan al-Qifti-) Arab scholar and author of Chronology of the Scholars, speaks of Arab admiration for Indian place-value system and methods of calculation.
“Among those parts of their sciences which came to us, the numerical calculation….it is the swiftest and most complete method of calculation, the easiest to understand and the simplest to learn; it bears witness to the Indians’ piercing intellect, fine creativity and their superior understanding and inventive genius.”
I'm an Indian living and working in India. I have work experience from overseas as well. Trying to incorporate that experience to improve things here. Btw, I'm a guy, so if you are a guy too, "Dear" is not appropriate! Not trying to be a douche, but it just seems weird! :)
Jean-Claude Bailly (1736-93) 18th century French astronomer and politician. His works on astronomy and on the history of science (notably the Essai sur la théorie des satellites de Jupiter) were distinguished both for scientific interest and literary elegance and earned him membership in the French Academy, the Academy of Sciences, and the Academy of Inscriptions. Bailly had already noticed that:
Aryabhatta is sometimes called the "Father of Algebra" instead of al-Khowârizmi (who himself cites the work of Aryabhatta). His most famous accomplishment in mathematics was the Aryabhatta Algorithm (connected to continued fractions) for solving Diophantine equations. Aryabhatta made several important discoveries in astronomy; for example, his estimate of the Earth's circumference was more accurate than any achieved in ancient Greece.
I agree that it is better to plan for a decrease rather than depending upon an increase. But I am very confident that NRI remittances will remain a significant portion in GDP for a longer time frame. From what I have seen more and more people are going overseas for jobs or business and they will continue to send money back.
India service sector accounts for 55% of a 2 trillion economy in 2013. China's service sector was 45% of a 8.25 trillion economy in 2012. Which 1 is larger and more developed? China's energy production and consumption is unrivaled in the world (indicator of consumption), how about India? Blackouts anyone?
What is chinese household savings absolute number & median income,When you calculate indian income the focus should be of some states like WB,MP,Bihar,UP who pull down national averages.If they are excluded & then recalced the stats throw a different direction over 10,20 years time frame of rapid progress realized.
Yes conditions are still disturbing but they are fast improving. Govt. has done a lot to curb red tapism and bureaucracy. Some examples can be better reporting, RTI, e-governance, etc. But this things do take time as problems are deep. There can not be a fast way of controlling 10 crore govt. emp. But with advent of modernisation, pace has picked up. You can compare things now and in past. I agree it is conditions are not even 10% compared to western countries. Things do move slow but they move.
And even if these corporations are using govt. for better terms, what is wrong in that. As far as I know this has benefited India till now and has started a circle where they will have to invest more and more to reap benefits. And there are still tons of countries out there which have cheaper land, manpower, skills and other to compete which will give in to US govt. easily, why not they invest there instead of continuing investing in India which is getting expensive by every passing day.
for a developing country that debt is high ,but it shouldn't be a problem that big, i think if we are talking problems in india is overpopulation, pop per square kilometer ,that means few resources for the future development and so huge imports of raw materials if india will ever develop,were are those going to come from? what will india trade with? when you have a density like japan you need to be a technology hub ,to give high quality goods for raw materials, india is to big to be a new japan.
One last thing for the day. The language that ancient indians spoke was called Sanskrit - now widely considered the mother of all indo-european languages. So thank us also for producing your language for you. Good Night. Please take a look at Vedic Mathematics etc. for further knowledge.
So are bank robbers
Adaptec - Indian CEO Subramanian Sundaresh fired.
AIG (signed outsourcing deal in 2007 in Europe with Accenture Indian frauds, collapsed in 2009)
AirBus (Qantas plane plunged 650 feet injuring passengers when its computer system written by India disengaged the auto-pilot).
Apple - R&D CLOSED in India in 2006.
Australia’s National Australia Bank (Outsourced jobs to India in 2007, nationwide ATM and account failure in late 2010).
Bell Labs (Arun Netravalli took over, closed, turned into a shopping mall)
Boeing Dreamliner ES software (written by HCL, banned by FAA)
Boeing 737 MAX disasters in 2019 - 347 killed, Boeing seeks $10 billion bailout.
Bristol-Myers-Squibb (Trade Secrets and documents stolen in U.S. by Indian national guest worker)
Caymas
- Startup run by Indian CEO, French director of dev, Chinese tech
lead. Closed after 5 years of sucking VC out of America.
Caterpillar misses earnings a mere 4 months after outsourcing to India, Inc.
Circuit City - Outsourced all IT to Indian-run IBM and went bankrupt shortly thereafter.
ComAir
crew system run by 100% Indian IT workers caused the 12/25/05 U.S.
airport shutdown when they used a short int instead of a long int
Deloitte
- 2010 - this Indian-packed consulting company is being sued under
RICO fraud charges by Marin Country, California for a failed solution.
Dell - call center (closed in India)
Delta call centers (closed in India)
Fannie Mae - Hired large numbers of Indians, had to be bailed out. Indian logic bomb creator found guilty.
GM - Was booming in 2006, signed $300 million outsourcing deal with Wipro that same year, went bankrupt 3 years later
HSBC ATMs (software taken over by Indians, failed in 2006)
Intel Whitefield processor project (cancelled, Indian staff canned)
Lehman (Spectramind software bought by Wipro, ruined, trashed by Indian programmers)
Medicare - Defrauded by Indian national doctor Arun Sharma & wife in the U.S.
Microsoft - Employs over 35,000 H-1Bs. Stock used to be $100. Today it’s lucky to be over $25. Not to mention that Vista thing.
MIT Media Lab Asia (canceled)
PeopleSoft (Taken over by Indians in 2000, collapsed).
PepsiCo - Slides from #1 to #3 during Indian CEO Indra Nooyi’ watch.
Polycom - Former senior executive Sunil Bhalla charged with insider trading.
Qantas - See AirBus above
Quark (Alukah Kamar CEO, fired, lost 60% of its customers to Adobe because Indian-written QuarkExpress 6 was a failure)
Rolls
Royce (Sent aircraft engine work to India in 2006, engines delayed for
Boeing 787, and failed on at least 2 Quantas planes in 2010, cost
Rolls $500m).
SAP - Same as Deloitte above in 2010.
Skype (Madhu Yarlagadda fired)
State of Indiana $867 million FAILED IBM project, IBM being sued
State of Texas failed IBM project.
Sun Micro (Taken over by Indian and Chinese workers in 2001, collapsed, had to be sold off to Oracle).
UK’s NHS outsourced numerous jobs including health records to India in mid-2000 resulting in $26 billion over budget.
Union Bank of California - Cancelled Finacle project run by India’s InfoSys in 2011.
United - call center (closed in India)
Victorian Order of Nurses, Canada (Payroll system screwed up by SAP/IBM in mid-2011)
Virgin Atlantic (software written in India caused cloud IT failure)
World Bank (Indian fraudsters BANNED for 3 years because they stole data).
The reason why he said 2 little countries is because of the mindset during that time ... nobody knew what India and China would be like 30-40 years ago. So he's actually making fun of the ignorance of the policy makers of the 70s, 80s and the 90s !!!!
I am an indian!He is teaching well and certainly not making the class boring!
As where NRI remittances are concerned, it are significant but that does not mean that India runs on that money. Global average is 1.9% and India has 3%. So it is not like India is totally dependent on that money, although contributions of NRI cannot be denied in any case and its great to have them. The main problem of trade deficit in India is because of Oil import and gold and India do not have both. So curbing this deficit will be a big problem for India but it can be done as done with gold.
I still stand by my " pure business basis". It was said in context that american corporation are not doing any charity by investing in India but have benefit in these investment and any transaction which is done for your own benefit is on business basis. My simple point was that it is not american investments which shape India's growth story(good or bad). You yourself has said stated this fact in this post.
Student: mom i want to become a rapper
American moms:honey do what you like i want u to be happy
Indian moms:you doctor,you engineer or YOU FAILURE
It is not as straight as you think it is. India have reserves of about 300 billion $ and trade deficit of 21billion $ in Q2. India has been able to consistently manage its debt payment as well as its import obligation while having trade deficit. Imports are very high in relation to exports beacuse of oil and gold. But this will rationalise as oil prices rises and people look for other sources of energy. Already gold imports have been significantly reduced on account of higher tax and high price.
The greatest mathematics before the Golden Age of Greece was in India's early Vedic (Hindu) civilization. The Vedics understood relationships between geometry and arithmetic, developed astronomy, astrology, calendars, and used mathematical forms in some religious rituals.
Website: The Greatest Mathematicians of All times
According to Voltaire, "The Greeks, before the time of Pythagoras, traveled into India for instruction. The signs of the seven planets and of the seven metals are still almost all over the earth, such as the Indians invented: the Arabians were obliged to adopt their cyphers."
The indian government is that it is able to support these people themselves, Aid is not necassary! The country has its own space program for god's sake! The aid that is sent, is more like gifts to remember. When the country that sent the aid is in trouble itself, which it DEFINITELY will be, the country receiving aid will return the favour. India has been opressed for 300 years and in within 40 years it has already gone through industrial revolution 5x faster than europe.
@Normacly I meant to typed "sort of traditional".
They are the only society which run classrooms for how you should hold a fork,for if you eat by hand the food becomes indigestable,they have a PHD course & pour billions to research which lipstick is going to look like rubies in a women's lip,they even invest into sin industries like listing brothels,tobacco companies,liquor companies & then talking of women's emancipation in playboy mansion.I really love this world.God knows what carnegie,harvard are influencing their society or world view.
Pythagoras's theorem discovered in India in 800 BC according to renowned historian Dick Teresi. author and coauthor of several books about science and technology, including The God Particle. He is cofounder of Omni magazine and has written for Discover, The New York Times Magazine, and The Atlantic Monthly.
the way the things are going, this world will turn into one big nation for all of us, just the way it was in the past before of global flood...
Dear I do believe that instead of looking at absolute numbers, you should look at % references as it will give a more clear picture. India's debt has been decreasing consistently from a high of 82.2% in 2002 to 68% in 2012. Yes external debt has increased but that is still very much under managable limits. If you study world bank report 'Global Development Finance, 2012', it says in terms of ratio of external debt to gross national income, India’s position was the fifth lowest.
Once India was the richest country and Christopher Columbus went to find 'India' not 'America'.
remember the American girl who said 'I thought Europe is a country', 'hungry? that's a country?', that was quite epic though.
We never can have a true view of man unless we have a love for him. Civilization must be judged and prized, not by the amount of power it has developed, but by how much it has evolved and given expression to, by its laws and institutions, the love of humanity.
Guys, he was being sarcastic, when he said, little countries.
@burnstagger
I am going to visit india next month actually. The aim is to learn about ancient indian mathematics - the very basis of todays mathematics. The earliest works on triganometry, calculus, integers, decimals, the vaue of pie, concept of zero etc.. What Einstein called the indian basis of all modern science and mathematics.
Okay, my bad! I thought in terms of India providing better business conditions than the US, which is not the case at all. Infrastructure is still horrendous, and bureaucracy is unbelievable. I'm waiting for a clearance that should have taken 2 weeks tops and it's almost 200 days. If I wasn't Indian I would be long gone. I'm hoping to meet someone who can really take a hatchet to the red tape! Not for me, but for everyone. I've looked at the rules, and it's like they were made as obstructions.
Wallis casts doubts on Diophantus’ contribution to modern
algebra. He even launched the idea that Arabic algebra may have originated
from India (Wallis 1685, 4):
However, it is not unlikely that the Arabs, who received from the Indians
the numeral figures (which the Greeks knew not), did from them also receive
the use of them, and many profound speculations concerning them, which
neither Latins nor Greeks know, till that now of late we have learned them
from the indians
It was never "Your" game; let's start from there
2011 remittances were about $70 billion, or around 5% of GDP. NRI remittances come in with no strings, i.e, they are not repatriable and they are not payment for goods. There is a multiplier effect which is generally placed at around 4 times. So about $280 billion in GDP is generated through NRI remittances. In a 1500 billion economy, that is quite critical. Japan, South Korea, China, Taiwan, etc. also have huge oil import bills. Gold is not an essential import, but an Indian obsession.
China and Inda did not just get better but the US let it's self go.
India is in a debt trap because it is not on a path to debt reduction, but ever increasing debt. This year external debt has grown 13%. I didn't say the American govt has invested in India, but certainly the biggest foreign investors are American corporations, who often accompany American government delegations to obtain better terms, so much for "pure business basis". This year, NRI remittances covered almost half of the trade deficit. Are you saying that is not significant?
External debt has to be serviced with international currency, regardless of the percentage of GDP that it is. India does not generate enough through exports alone to service its external debt after paying for imports. It doesn't earn enough in exports to pay for imports, let alone service debt. Debt servicing is accomplished via remittances, FDI and restructuring of debt. In the long term, without massively boosting exports and tightly controlling imports/outflows, it is a zero sum game.
In my opinion concealing money is rooted deep within people as well. There are many instances of people asking goods without bill or faking expenses. Real estate is one major thing but in that to like in our city, builders are selling on bill but then there is still black done by people on premium in secondary market. For country, both govt. and people should change their mindset. I do believe that if govt rationalises tax rates, then more people will be willing to pay full amount via banks.
lol you can call it skilled labor!
despite the "sub-standard food" chinese still live heck a lot longer than Indians. Chinese infact are so intelligent they can sell sub-standard goods to other countries that has helped to build up a treasury thats larger than India's entire economy.
I think you need to focus on the response. You said that corporations invest in India on "pure business basis". I showed that is not necessarily the case. As far as investing in other countries, look into how much India receives in FDI as a global percentage. For 2011, India received 4% of global FDI. Your insinuation that India is receiving a disproportionate share of FDI is not rooted in fact. Also note that FDI from Mauritius is very likely Indian black money.
it was corrupt even way before greatest ex water gate. and us itself is running on chinese loan. rip
yeah I do agree with you on this
Decimal system , Economic reforms at local levels villages and small town by Shkrupta in 230 BC which is now followed world wide, C. V. Raman won Nobel prize for Raman Effect which gave birth to nuclear reactor, Amartya Sen won Nobel prize for scientific research in economics,Hargobind Khorana won Nobel prize for medicine and improving methods for laser surgery, USB invented by an Indian Ajay Bhatt ... Google for more ...