ChIndia- A race of policy making

As China and India emerge to be the two fastest growing economies in the world, the comparison between the two neighbours inevitably increases. In all tangible measures, China is leading the race. A look at the statistics seems revealing. China's GDP in 1978 when the liberalization began was less then half then that of India's and today some thirty years after its liberalization China's GDP is more then double then that of India's. China's GDP per person today is US$ 6,000 which is expected to climb to US$ 15,000 by 2020. China's fast growth could well be its anathema. It is seen worldwide that the GDP tends to plateau as has been the case of developed economies, once it reaches the level of around 15,000. There is another problem waiting to strike China. China banks heavily on its manufacturing sector. With its one child policy, though China was successfully able to counter the menance of population, but it may lead to the problem of an old generation in the coming decades. By 2050, China would have almost the same number of old as in the developed world, with a dwindling population of the young. India on the other hand is growing at more then 2% and will have the youngest population in the working age in the coming decades. This along with Rule of Law is counted upon India's potential strengths that will help her quench the race from her gallopping neighbour. But for the race to be won India's needs to take affirmative initiatives on the policy making front. Good governance and effective implementation can make all the difference in this story. India has a strong industry with great talent. Tata and Infosys are globally recognized brands. India has the potential to come out with more such brands. But for this to happen, we need to make our work force employable. Being young does not help. Youth can be dangerous. It needs a sense of direction. A written constitution claiming democracy and equality its people is not enough. What we need is leveraging that Rule of Law and that workforce by making employable.