Re: Death of Dewang Mehta is not death of India

["Raju Agarwal" <krantikari@hotmail.com>]

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the Inquisitor wrote:

>India and Indians should be developing local markets!!
>   Greater amount and quality of wealth is generated if
>there are strong local markets for what you produce!
>Oh, and we don't need Mr. Dewang to run to foreign
>countries to fetch us some bread crums or some grunt
>work.  He would, instead, focus on developing IT for
>domestic use and for the benefit of Indians first!

How do you think Hong Kong, Singapore, Taiwan, South Korea, Japan and China 
created wealth?

The gdp/capita of HK, Singapore and Taiwan was almost identical to China 50 
years ago.  Today they are on par with the U.S.

South Korea's gdp/capita was identical to North Korea in 1955.  Look at the 
difference today.

China just reported a gdp growth rate of 8.1% for the March 2001 quarter.  
Care to guess the reason for China's rapid growth?

The answer to all of the above - Export led growth!

Jagdish Bhagawati has done same great work in the field of gains from trade 
for developing countries.  I suggest you have a read before you make any 
further stupid remarks.



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