India's beef with China in BRICS is basically about
wanting to internationalize its rupee. Likewise, India's beef with
Russia is also about the rupee that Russia does not want as payment for
energy and weapons. But India cannot do without cheap Russian energy.
Cheap energy is the lifeblood of industrialization. India is caught
between a rock and a hard place, trying to strike a hard bargain in
BRICS.
The problem is that India's trade with most countries
around the world and particularly the Global South, is still not on the
level of China's. China's trade, especially its exports to the rest of
the world is exponential. China dominates in many export sectors, which
India is not able to compare. Remember that China is now the factory of
the world, churning out consumer products that the world needed.
Countries need to buy cheap consumer products from China and will accept
the Yuan as payments for example in energy sales to China, which could
be recycled when buying consumer products from China.
For India
to rise to the level of China, which it is aiming to do, there is a lot
of work to be done. China did not become such a manufacturing giant
without long thinking and planning. China started its manufacturing
mindset with procuring all the raw materials, trained all the engineers
and scientist, tailored its education system to be a manufacturing hub
and is able to do it without all the hindrances inherent in its system.
This is one positive aspect of socialism, where decisions can be made
fast and decisive.
India is hindered by, ironically, its democratic ideals, which hindered progress.
Anonymous
3 comments:
Indian graduates are reported to be turning to farming with Government and manufacturing jobs not able to provide employment en masse with the fast-expanding population.
India's economy is still largely based on agriculture, with more than half of its population still engaged in agriculture. India's foray into manufacturing is still a long way off, in an attempt to provide good jobs for its younger educated workforce.
Happy Diwali !
https://www.facebook.com/roadssg/videos/2498201580379202
No, eating beef in India is forbidden. So better come over to Singaland, there are plenty of jobs waiting to be filled only by Indian. We got Indian holding high position in our Gov. as well as GLC/Banks, so you can be assured of good support from them. Even though we cannot join BRICS, but no problem, we can trade through India who is one of the founding member.
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