The modern world is a place where everything is guided by economic forces. Even the military might is unimaginable without being backed up by a sound economy. The system governance is also adjudged on the economic strength of a nation. This picture is today clear when we see the race for being number one in the economic field between India and China. As we know, whereas India has democratic system of government, China is ruled by the laws of autocratic Communist system. So through its calculated efforts to bring about quick economic wellbeing of its people, the country wants to give a message that Communism is the best form of government for the people at large. On the other hand the unprecedented success of India in the matter of the GDP growth rate is bound to prove China wrong.
Among several other factors, the prevalent one-child norm of the Chinese society is proving as an impediment in the future growth rate. In the current financial year, China was hoping the GDP to remain at 9.50 %. However, fortunately due to some unexpected helpful reasons, the rate is destined to touch an encouraging 10 %. Despite that, according to the economic experts and the World Bank, it is bound to slump down to 6 to 7 % in the next couple of years. The main fctor for this downward trend is supposed to be the graying Chinese population. If the number of young people goes down, who will take up the arduous responsibility of making the country rich ? Another retarding factor appears to be the excessive emphasis on exports. Even the World Bank has advised China to limit its production for the domestic use only. The policy of rampant export may ditch the country if due to some unimagined reasons the export market shrank. In addition to these, the Chinese ambitions of being a super power is devouring huge money for defence requirements which could be spent on the public welfare.
On the other hand, in the matters of population,India has a shining prospect. According to the World Bank estimates, the hugely young Indian population is ready to overtake other countries in the high growth bracket. In course of his recent India visit, Barack Obama said that some 50 crore of people here are of thirty years or less. They have enough potentials to take their motherland to a new height of economic resurgence. They are further optimistic that by 2013, the Indian growth rate will leave behind other economies by a big margin. Moreover, the economic experts of India are carefully managing a healthy balance between export and import. They are not at all in favor of short-cuts and short-living measures. Moreover, they are giving importance to defense only to the extent of the requirements of the national security. They are very clear in their vision not to be a military superpower and bully the neighbors and other countries. In the hands of such policy makers, the country appears to be safe.
It is in the above context that the US president admitted that India is not an emerging power, but as a matter of fact it has already emerged. It is not just for enquiring about the temperature and season that he came to India. Obama clearly perceived that India had potentials to take the American economic chestnut out of fire to a great extent. As a matter of fact, through some solid negotiations with the Indian entrepreneurs in Mumbai, he succeeded in creating 50,000 new jobs for the unemployed lot in the US. On the other hand, Dr. Manmohan Singh boldly told that he was not interested in stealing jobs from America. These emerging trends on international level are proof enough to signal to our critics that the democratic India is strongly surging ahead and in near future will lead the world in the field of economic progress
