Who would be the next global super power - India or China?

It is inevitable. The rate at which the economies of India and China are growing, it is time that one of them is crowned the undisputed global leader.

INDIA - A resilient and vibrant democracy, a multicultural nation with a complex mix of race, religion, caste and language and a rich artistic heritage that can be excavated all the way back to Harappa. Five million cell phones sold in the last month. GDP touching 10 per cent, sensex flirting with the 20,000 point mark, Indian computer scientists forming the bulk of Silicon Valley, IIT trained engineers working all over the world and also finding time to appear in Dilbert comics. Well, it is spring time in India.

 

On the other had, we have China. The story of superlatives here is not just restricted to the population figures. The largest and most modern stock exchange - Shanghai Stock Exchange; tallest TV tower (Shanghai) and the longest Olympic torch relay ever all the way to the Mt Everest. Well, China has been delivering and the whole world is taking notice.

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Rapid economic growth, global trading ties, and expanding diplomatic cooperation have pushed China to the first rank of nations. The Chinese economy has been growing at 9.67 per cent since 1978. In 2006, it reached a staggering 10.7 per cent. China’s research and development budget has been growing at 20 per cent every year since 1999. In 2006, it was the second highest investor in research and development after the United States. The 2008 Beijing Olympics - the biggest sporting spectacle ever will be an occasion of pride and celebration for the Chinese.

 

Indian economy has seen a ...

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