Martin Wolf, chief economics commentator at the Financial Times, London, argues that India is following China as a “premature superpower”, by which he means “a country with low living standards, but a huge economy.” Interesting thought! Taken to its logical end, what would this mean : a country with a 10% GDP growth rate where the vast majority donot have the basics in life.
One has heard the activist/NGO arguments on this. What do economists feel? Is this growth sustainable? What would it mean, economically, politically and socially, if only about 10% to 20% of the population continue to be part of the “growth” story and the rest are pushed to the edge. Write to me. Share your thoughts.
Check out my latest column ( earlier post on this blog)