07 October 2007 - INDIA TO SUSTAIN ECONOMIC GROWTH, CHINA COULD FALTER - NATO PA HEARS
India is likely to sustain the high growth rate it has achieved in recent years, but because of the structure and composition of its economy it is likely to complement rather than compete with the US and European Union economies, NATO parliamentarians heard today (Sunday).
Mr V.N. Balasubramanyam, a lecturer at the
“The model of growth and development which has evolved since the year 1991 – what can be termed as the elitist model –mostly because of the legacy from the past, is one which is likely to endow
He argued that this was in contrast to
“The Chinese economy has responded to inputs of huge amounts of capital and labour, the capital provided by the Chinese Diaspora and growth of domestic savings of 40 percent of GDP,” he said.
“This sort of growth… is likely to face not only increasing competition from other developing countries such as Vietnam in Asia and Brazil and Mexico in Latin America, but also run into demand ceilings. In contrast,
He said this endowment of highly trained people enabled
The NATO Parliamentary Assembly, which brings together some 248 delegates from 26 Nato member states, is currently holdings its annual session in