India will rise – but how far can one rise on clay-feet?
McKinsey have in a recent report discussed the race between China and India. “The race to growth,” it is called. Since, India’s stock-market, real-estate prices and professional salary levels are booming, it is easy to become excited. Yes, perhaps, India have that “demographic dividend,” perhaps, it can leapfrogged into the knowledge based economy or to the e-composed society. Perhaps, the IT industry in India will pull the whole country out of staggering backwardness. Yes, perhaps.
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