Hello everyone,
Following on from previous discussion here RE why India's economy hasn't grown
like China's, I though I share an interesting youtube video that appears on a
macroeconomics channel I follow:
Hey %% & && though you might be interested in this given our previous discussion
RE why India's economy hasn't grown as quickly as China's.
https://www.youtube.com/watch?v=zrFWHAyI2W0
Dr. Joeri Schasfoort's channel Money & Macro is an economics youtube
channel I've been following for a while. He's done a few analysis videos about
China's economy and in this one explains why he thinks India didn't and cannot
grow the same way China has.
It's an interesting watch. He summarizes research from two Indian Economists, ex
central bank president Prof. Raghuram Rajan & Proj Davesh Kapur from the John
Hopkin's University.
If I've understood what he's presented correctly, it seems that it mostly comes
down to the different ways that India & China's local government function and
how they were & still are incentivized. From what he presents in this video, it
seems to me that for foreign investors, working with India's local government
was and will still will be much more difficult, so dealing with bureaucracy,
getting permits ect is just much more difficult than in China.
Also appears that some local Indian governments have and still are deliberately
leaving important vacancies empty due to ongoing cast conflicts and
discrimination. This also negatively impacts things like education which
apparently is something China has done a better job of managing.
There quite a bit more in the vid that what I've mentioned here, hope you find
it as interesting as I did & I look forward to your opinions on it.
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