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It’s hard to open a magazine these days and not be reminded of the economic evolution going on in Asia. The reminder of Banglore and Nehru India as the New Silicon Valley or China as the world’s forth-largest exporter and the third-largest importer of goods and services is just amazing. The world biggest democracy (India) and the world biggest authoritarian government (China) have risen to become the epitome of the free market economy. They have risen from embracing different ideologies to embracing development. They have put aside their military uniform and picked up suits and ties, and now we are using them as models and practical examples to other developing countries that are striving for democratization, industrialization and globalization. I would be lying if I said I was not impressed, my next question then becomes, what lessons could other developing countries especially African countries learn from India and China? Before we go further we need to know how similar are India and China to most African countries. What characteristic do they share? One of the biggest similarities is that they are developing countries; they share the same labor force, So if they share some of the major similarities, then how is it that the two most populated countries in the world are miles ahead in development than most African countries combined? What can the African countries learn from them? From my analysis the answer would be to answer this is to look at some of the things that have led to India and China’s success.
Embracing Globalization
A consistent and thoughtful marketing effort
Creation of zones and infrastructure for businesses
Ability to respond quickly
Reduction of Poverty
Structural Reform Education These two countries realized universal primary education is an effective anti-poverty measure that promotes equity. They also encouraged the study of math and science in their school curriculum. They have also encouraged the use of English as primary in higher education. The results are phenomenon thanks to digitalization and networking, companies in developed countries are outsourcing most of their departments i.e. accounting, programming, helpdesk support, secretaries and telemarketers to developing countries where the same jobs can be done at very low wages. India and China still has room for further development, but so far they are way ahead of most developing countries. The biggest thing in their success is noticing the changing times and their willingness to change. African policy makers should learn from this two countries, they should know fully well about the important impediments to stronger growth, among them poor infrastructure, a high cost of capital, and persistent fiscal imbalances. Yes there are problems we as African’s inherited from our own history and social makeup but it’s about time we stopped being disillusioned. Most African countries gained their independence in the sixties and early seventies but they still blame their downfall on colonization.
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