China and India, Opportunities are there
A few years ago India was dealing with civil unrest and with Pakistan, a potential nuclear war threat, and its economy was seen as a also-ran in a race for growth with China. Today India finds itself in the same Western thoughts as China, both fast-growing economies, large population base and both viewed as threat and an opportunity to the rest of the world.
Asia’s emerging giants, their social and economic systems are vastly different however they have strengths that are complementary. International community leaders, business leaders and multinationals need to think more about both of these countries together rather than separate entities. There are many fronts where there is already mutual collaboration between the two; there are synergies between the two that will develop as they both move toward global importance. Relations between China and India have been improving in recent years and as they find mutual areas that facilitate each other this will continue to improve. As they both search out new markets and resources, especially in places like Africa, they will find common bonds of cooperation.
The world has seen how Japan and Korea have grown and developed over the past 20 years. In many ways there was collaboration and many mutually beneficial relationships that fostered the success for both of these countries.
China and India are two countries with many millions of Entrepreneurs so you know there will be a tremendous level of spirit and activity between the two; nothing alleviates the issue of poverty like economic success. They in many ways complement each other as China’s strength is in manufacturing, speed of decision making, the ability to plan, move and complete huge projects in a very short period of time, getting things done. China respects India’s ability to engineer, develop software, technology skills, medicine and outsourcing strengths.
Collectively they will have a huge advantage in purchasing power. The world has already seen some of this power as the demand for oil and other resources have impacted prices world wide. For many years America has had a distinct advantage in this area however this will diminish as these two powerhouses increase in global strength.
Many foreign firms view China and India’s huge and somewhat open markets as a source of customers as well as competition. There is a tremendous opportunity for International Companies and Firms to find an ever increasing number of emerging buyers for their products and services. There is a large number of Chinese and Indian Students in the US who have or are making their way back to these countries to take advantage of the growth and opportunity to do well in their careers and make their fortunes. These young people will lead the development and growth.
China and India, as they move forward to becoming the two largest economies in the world, ever, are awakening to the benefits of international education and corporate training. They have more resources for developing solutions and their growth at their disposal than any other developing country in history. Technology will allow them to access resources faster and more efficently. They understand that this creates qualified manpower that bring in professionalism, leading to higher value in terms of better efficiency and productivity. It’s a win-win situation for all as the organizations benefit due increased efficiency and the employees grow and become more well paid consumers.
There are great opportunities here for companies and business leaders who make the decision that there will be a Chinese and / or India plan in their future.
