The Hindu : Front Page : “Asia’s growth depends on India, China”

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Friday, Sep 19, 2008
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“Asia’s growth depends on India, China”

Special Correspondent

India has benefited immensely from bilateral trade with China: N. Ram

Australian economy linked to rise of India and China
India and China growing better than the developed countries

— Photo: M. Vedhan

Murray Harris (right), Counsellor (Political) and Head, Public Affairs, Australian High Commission, and Aminur Rahman, Australian Consul-General, Chennai, interact with students at a seminar held in Chennai on Thursday.

CHENNAI: Many analysts have called the coming century “Asia’s century,” but for that to come to pass, India and China, should co-operate strategically, speakers said here on Thursday.

At a seminar on “Sustaining Asia’s growth: challenges and opportunities,” organised by the Australian High Commission, Bambang Harymurti, corporate chief editor, Tempo, a Jakarta-based news magazine, said that Asia’s growth depended on India and China, which were posting respectable growth rates while the developed world was afraid of slipping into recession.

Prime contributors

He said that a Harvard study had predicted that Asia’s share of the world GDP would be 57 per cent by 2025, and India and China would figure as important contributors. But the same study suggested that both countries would have a per capita GDP of only 25 and 25-50 per cent respectively of the GDP per capita of the U.S. in 2025.

This suggested that there was still a lot of catching up to do for the world’s two most populous countries. And any development that led to the rise of the two economies would in turn benefit the whole world, he said.

Highlight basic problems

Delivering the keynote address, N. Ram, Editor-in-Chief, The Hindu, said that India had benefited immensely from bilateral trade with China, but there were many profound contradictions within the country. The “India Shining” campaign had bombed in the last elections, and basic problems needed to be highlighted, he said.

Policy-makers should also take a more pro-active view to develop political ties, especially with the Shanghai Co-operation Organisation, Brazil, etc. In the unipolar setup of the current world, Indian foreign policy was going off the rails, he said.

Culture is important

Li Tao, executive director, Institute of South Asian Studies, Sichuan University, said that a multi-polar world was necessary to avoid an abuse of cultural hegemony. Culture was becoming an important component of international relations. Prof. Tao said that constructing a common Asian civilisation was necessary to counteract the western influence, and that increased India-China cultural exchanges would strengthen both nations.

Earlier, Aminur Rahman, Australian Consul-General in Chennai, said that Australia’s economy was linked to the rise of India and China. He said that the seminar, being held for the fourth year in succession, would provide an opportunity for journalists, students and academicians to discuss key issues relating to the region.

The two-day event would include panel discussions on energy security, the global food crisis, and the road ahead for Asian economic growth.

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