If China's economy grows by 8.5% and RMB appreciates by 3.5% a year for the next 9 years and America's economy grows by 2.5% for the same time period , China's economy will overtake that of America by either 2019 or 2020. These are very reasonable assumptions. The ECOMOMIST magazine predicted 2019 as the year when China overtakes America in GDP.

Bastards, heh? What do they think they are doing?

Don't they know they are expected to follow the script that has been written for them in Wall Street?

Ungrateful bastards.

These are some of the comments over india.
NEW DELHI: Here are some winners even before the results of the 14th Lok Sabha polls are out! Carefully maintaining equidistance from all parties and without eyeing political mileage, several individuals and voluntary organizations have worked towards strengthening the Indian democracy. From monitoring of polls to seeking more transparency from candidates, these unsung heroes are working to contribute their bit to the electoral process spanning over two months and involving 675 million voters.

"Bill is before the House and government is very sincere in passing the Bill, the Lokpal bill and bringing in to force. There is no doubt about it," she added.

Patil also praised other measures such as the Right to Information act to bring reform in the world's largest democracy.

"The double tax avoidance agreement also, India is very keen about it. India has already rectified that. I took up this issue with these Austria and Switzerland also because the Indian government is very sincere and they want to effectively implement this also and we have taken all the measures, which are necessary to curb corruption. To combat corruption, government of India is taking and that is the reason why India is actively considering to become a member of the Anti- Corruption Academy," said Patil.

Commenting on the recent wave of hunger strikes by various social activists to press for their demands, she said that Indian democracy is globally admired because of its moral values and rule of law and that should be respected by all.

"We have certain values and rule of law in a democratic set up along with our human and civil rights. These are the common values of our democracy for which India is respected by other countries," added Patil.

Patil further pressed on the need to join hands to counter militancy and praised the government of Austria and Switzerland for taking keen interest in the global war against militancy.

"As far as anti-terrorism is concerned both the countries have condemned the acts of terrorism and they think there should be a global war against terrorism. There is no second thought that terrorism is condemned globally," asserted Patil.

We Indians know something is wrong with our system. Yet, we find change unsettling. People came together in the Anna Hazare-led anti-corruption movement and led it to victory. However, when we sat down to draft the Lokpal Bill, apprehensions set in, caused by the personal attacks on the drafting committee members, the projected worst-case scenarios on what could go wrong and how the Lokpal himself could become corrupt. Some intellectuals called the movement an attack on democracy.

Enjoying the citizens' insecurities and confusion, the government decided to do what it does best—hoodwink us. The latest salvo from it is that MPs and the PM should be kept out of the bill's purview, which in turn renders the bill impotent and pointless even before it is enacted.

Let's step back to the basics. Neither the movement, nor the bill is an attack on democracy. In fact, the movement was a catalyst and the bill gives Indian democracy its proper form. Right now, we are not truly a democracy, irrespective of what your civics teacher taught you in school. We are closer to an elected monarchy, or kingocracy. We elect our leaders, and give them all the powers in the world. If they do any wrong, the only people who can investigate them are among the ones who report to them. In other words, they are not political leaders; they are little kings (complete with shoe-polishing sycophants and traffic-blocking privileges).

There is a reason why we have such a system. For thousands of years, India had only kings. Then the British came, ruled us for 250 years, and left behind democracy-like parliaments, courts and governance systems. However, ultimately, India was a colony run by British leaders with absolute power. In this system, having a people's representative ombudsman, or Lokpal, was out of question.

The British left, and our own elected leaders replaced them. The election was a good thing. However, the chairs they sat on had absolute power. Everyone reported to them, and they didn't need to answer to anyone. Thus began a legacy of corrupt leaders, who in turn created one of the most corrupt nations on earth. The corruption seeped down to lower levels of power. From traffic cops to oppressive husbands — abusing power in India became normal.

The absolute power given to our politicians often attracted the least ethical and most dishonest people to the profession. The Indian politician became a shady villain in our movies and popular culture. We accepted there was no way out. Rulers had to be kings, and kings could do whatever they wanted.

Corruption rose to astronomical levels, while the country remained poor. Indians lacked basic infrastructure, education and food, and faced massive inflation even as politicians swindled thousands of crores. Yet, nobody could lodge an FIR against them, or independently investigate them. People finally became sick of it and took to the streets. Before it turned ugly, the government buckled and agreed to a Lokpal Bill.

We Indians know something is wrong with our system. Yet, we find change unsettling. People came together in the Anna Hazare-led anti-corruption movement and led it to victory. However, when we sat down to draft the Lokpal Bill, apprehensions set in, caused by the personal attacks on the drafting committee members, the projected worst-case scenarios on what could go wrong and how the Lokpal himself could become corrupt. Some intellectuals called the movement an attack on democracy.

Enjoying the citizens' insecurities and confusion, the government decided to do what it does best—hoodwink us. The latest salvo from it is that MPs and the PM should be kept out of the bill's purview, which in turn renders the bill impotent and pointless even before it is enacted.

Let's step back to the basics. Neither the movement, nor the bill is an attack on democracy. In fact, the movement was a catalyst and the bill gives Indian democracy its proper form. Right now, we are not truly a democracy, irrespective of what your civics teacher taught you in school. We are closer to an elected monarchy, or kingocracy. We elect our leaders, and give them all the powers in the world. If they do any wrong, the only people who can investigate them are among the ones who report to them. In other words, they are not political leaders; they are little kings (complete with shoe-polishing sycophants and traffic-blocking privileges).

There is a reason why we have such a system. For thousands of years, India had only kings. Then the British came, ruled us for 250 years, and left behind democracy-like parliaments, courts and governance systems. However, ultimately, India was a colony run by British leaders with absolute power. In this system, having a people's representative ombudsman, or Lokpal, was out of question.

The British left, and our own elected leaders replaced them. The election was a good thing. However, the chairs they sat on had absolute power. Everyone reported to them, and they didn't need to answer to anyone. Thus began a legacy of corrupt leaders, who in turn created one of the most corrupt nations on earth. The corruption seeped down to lower levels of power. From traffic cops to oppressive husbands — abusing power in India became normal.

The absolute power given to our politicians often attracted the least ethical and most dishonest people to the profession. The Indian politician became a shady villain in our movies and popular culture. We accepted there was no way out. Rulers had to be kings, and kings could do whatever they wanted.

Corruption rose to astronomical levels, while the country remained poor. Indians lacked basic infrastructure, education and food, and faced massive inflation even as politicians swindled thousands of crores. Yet, nobody could lodge an FIR against them, or independently investigate them. People finally became sick of it and took to the streets. Before it turned ugly, the government buckled and agreed to a Lokpal Bill.

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As a cub reporter a decade back, I used to find the idea of four large countries clubbed together in a catchy advertising slogan a bit funny. Funnier still was the leaders buying into the hype too. It still doesn't make sense.

As for FDI in retail, about which Mr. O'Neill complains, I wonder what is better? To roll back a controversial measure because of stiff opposition or to push an important measure through without consulting the parliament - as the government tried to do? The way FDI in retail was being pushed through in India through the back door was wrong. I am happy that the government had to back off.

Maybe some people might prefer an India with less democracy - as Mr. Mahathir Muhammad of Malaysia recommended a few days back. But as an Indian, I'd go with a blundering democracy any day. The extra per cent of GDP growth and investor returns is not worth my rights, and I am happy I can say this without being picked up or harmonized. The full Reuters story indicates Mr. O'Neill is the most bullish on Russia. I guess the wheel has come a full circle if the Malaysian leader finds common cause with a Goldman economist.

Let me understand this, so this tactical decision by India to delay FDI in retail means Indian economy is a disappointment? Wow, amazing logic. Alas, those days are long over when anyone would believe such faulty opinion, from a Wall Street analyst, based on weak reasoning.

India has always been cautious with its economy, after all more than a billion people depend on it. That discretion has served it well in the past and based on the past trend it will continue to do well in future. Most economic metric project 7% to 10% for years, that to me is good progress.

Now, why India has delayed FDI in retail, reason is simple. Look at US economy, all the mom and pop shops have been devastated by Walmart but because of mobility of labor and maturity of US economy it may be able to deal with that, India can't. Many poor folks depend on their small retail shops for their livelihood, big retailers will annihilate them completely. India needs think about the consequences and not worry about such inconsequential opinion of likes of O'N eill.