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India, China will be growth engines: Indian PM [Copy link] 中文

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Post time 2008-2-15 16:51:32 |Display all floors
India, China will be growth engines: Indian PM
http://www.chinadaily.com.cn/china/2008-02/15/content_6456522.htm
Updated: 2008-02-15 06:18


NEW DELHI -- India and China have the potential to be the engines of the world economy, Indian Prime Minister Manmohan Singh said here Thursday.

"In the years to come, India and China will be viewed as the new growth engines of the world economy. We are not yet there, but we will be," Singh said at the release of a book, "Business Standard India 2008", at his official residence here.

"We can certainly sustain much better domestic performance based on our own effort and potential. Our macro-economic policies are aimed at ensuring this," he said, adding that the "challenge before us today is also to get the politics right".

Asserting the government's commitment to ensure the uncertainty in the global system would not harm the growth of Indian economy, Manmohan Singh said India's large continental economy can sustain fairly high rates of growth based on the stable and sustained growth of the home market, even if there is turbulence in the global market.

Cautioning that the country cannot take the economic success for granted, the prime minister said the government needed to pursue sound macro-economic policies designed to raise savings, investment and productivity.

Singh, who appreciated the business daily Business Standard's new initiative, said there was a growing interest in the Indian story.

"The India story is not just about economic growth and business outcomes. It is also about social change, social mobility and the political empowerment of more than a billion people. The saga of over a billion people, seeking their social and economic salvation through the framework of a plural democracy is without doubt one of the most uplifting stories of our times," he said.
You will reap what you sow!

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Post time 2008-2-18 12:19:54 |Display all floors

Reply #1 gotohell's post

How about using Indian Rupee or Chinese Rmb in the Indian-China trade?

That would really expand trade.

Maybe we should start to build a Rmb zone in IndoChina to gain experience?


Green DRagon

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Post time 2008-2-18 12:38:41 |Display all floors
Singh should have mentioned that China and India have potential solely because of population size. But that's not very flattering, is it?
"Justice prevails... evil justice."

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Post time 2008-2-18 12:57:16 |Display all floors
Originally posted by interesting at 2008-2-18 12:38
Singh should have mentioned that China and India have potential solely because of population size. But that's not very flattering, is it?


Who wanna be so Fattening like Amerikans????

Very very Fattening
What's on your mind now........ooooooooooooooo la la....Kind Regards

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Post time 2008-2-18 13:20:08 |Display all floors

Reply #4 caringhk's post

i tend to agree with you that having "Amerikan style" minting rights could be "fattening"....

and we do not need to do it now as China is still very very competitive, and quickly climbing the value chain.


right call!


Green Dragon

note: An IndoChina Rmb zone could effectively tie that region more closely to China's and prevent trouble making at our borders! Wealthy neighbours will be friendly. I have noted HK Dollar zone in the Pearl River Delta helped tremendously to give Guangdongnese buying power in the initial stage of china's Dengist "open policy!

What's your opinion, Mr. CaringHK?

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Post time 2008-2-18 13:21:23 |Display all floors

Turkish close ties to European market and the EURO has certainly helped?

Green Dragon

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Post time 2008-2-18 14:00:44 |Display all floors
Originally posted by greendragon at 2008-2-18 13:21
Green Dragon


'cos Istanbul is in Europe............
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