Andhra Pradesh - Vijayawada   

‘China will overtake US by 2030’

Technocrat T. Hanuman Chowdary addressing a meeting on ‘Chinese challenge to India and the world’, at the Andhra Chamber of Commerce and Industry in Vijayawada on Friday.

VIJAYAWADA: “Going by the rate at which the China is making rapid strides on all fronts, it is a foregone conclusion that by 2030 it will overtake the United States of America,” said T. Hanuman Chowdary, former IT advisor to the State government, on Friday.

Delivering a talk on “China, a challenge to India and World” at the Andhra Chamber of Commerce and Industry, Dr. Chowdary dwelt at length on the evolution of Chinese civilisation, how the nation was destabilised by civil war between nationalists and Communists soon after the Republic was established in 1911 and Japan’s aggression in 1930s.

He said the “sleeping giant” began to wake up gradually in 1978 “when it gave up Communism” but retained the single-party rule without facing periodical elections. It then forced ‘one-child per family’ norm and dismantled the State-owned enterprises and encouraged private enterprise, foreign direct investment and competition and ingress of foreign technology.

“The nation has managed to record a stunning growth of 9 per cent to 11 per cent in the GDP since 1980. The phenomenal growth rate has set the country on a development spree. The country has modernised its armed forces, made huge strides in education, R&D, infrastructure and manufacture and trade sectors,” he said, pointing out that China was inferior to India in every respect till 1978. “It has managed to reduce poverty from over 40 per cent to a mere nine per cent,” he pointed out. Securing the place of the third largest economy after the US and Japan, China was all set to emerge as the second largest economy by next year.

Dr. Chowdary said Chinese goods were flooding European and American markets. The country was now the number one producer of steel, cement, coal, food grains and other manufacture goods. It was investing 40 per cent of its GDP in developmental activity

“Napoleon had long ago said: “Let the giant in China sleep. If it wakes up, the earth will quake. That is what is happening today,” said Dr. Chowdary.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Call to participate in service activities
Technology invades cricket
Mayor talks tough on child labour
Boy injured in attack
‘China will overtake US by 2030’
In Vijayawada Today

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu