Learning from China
Arguably, China’s successful embrace of one form of capitalism (“to get rich is glorious”) in 1978 ultimately played a role in steering India’s path of economic reform. Since then, China has often served as a benchmark for judging India’s progress, because it is the only other country that matches India in population size. Sorting out the lessons from China’s experience is always useful, beyond the comparison of the countries’ planning exercises, the subject of my last column.
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