Why India Will Displace China as Global Growth Engine

Dont bother reading it and thinking its true. Gary shilling is same guy who predicted S&P 500 to fall to 800 in 2012. I am from India and he has no ideas of the problems we have here. This kind of story would give you a better idea on whats going on. http://articles.economictimes.indiatimes.com/2013-03-18/news... Thats like the Tier 1 of our MBA's having problems getting a job because of the 'growth engine' economy Or you can look at office space growth in India(something like 3% YOY)

This would have been easier to believe ten years back. But, the last ten years have highlighted the single biggest threat to India's economic prosperity - a crippled central government. In a country where most people still vote for Loksabha (central government) elections based on local and regional issues, national parties like the Congress and BJP are being increasingly held hostage by local groups with a narrow agenda. Now, no policy of national importance can be decided upon without engaging in significant back channel politics.

Not for the next 50 years (at least). India has major problems to solve before catching up to (leave alone displacing) China as the 'Global Growth Engine'.

Said as an Indian living in India (and prefers living in India to living in China, but hey that is hardly surprising).

>>China, however, remains centrally controlled, with the Communist Mao Dynasty, as I’ve dubbed it, simply replacing the dynasties of old.

More or less it's just the same in India. Here instead of a dynasty or a group it's a family.