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Time for India's tortoise to turn on the speed
By David Pilling
本文来源一套测试题 http://www.ftchinese.com/interactive/220

When Indians talk about China, many fall back on what is essentially a tortoise-and-hare rendering of their relative performance. The story goes something like this: “Sure, China has its 30-year record of double-digit growth, its gleaming skyscrapers and its eight-lane superhighways. But India has the ‘soft architecture', the democracy, the rule of law and the freedom of speech that provide shock absorbers and make its economic prospects more enduring.” The implication is that, while authoritarian China may have raced out of the traps, sooner or later it will falter. India, playing the long game, will keep up a measured pace and one day surpass it.

If India is indeed the tortoise, its performance is all too convincing. In 1991, the year Indian reforms got going, its per capita income was roughly the same as China's. Today, China's is more than three times higher. It is not that India has been terribly slow. Indeed, in the 1990s, it finally sloughed off its lacklustre “Hindu rate” of growth and began to expand at a halfway decent clip of 5.5 per cent a year. From 2000, that notched up higher still – to about 7.5 per cent. The only problem – when it comes to comparisons – is that China has done even better, expanding at 10 per cent a year over the same period. By the magic of compound growth, it has streaked ahead.

One does not need to accept the tortoise-and-hare analogy to believe that India, too, has a reasonable shot at double-digit growth. This year, it is expected to grow at about 8.5 per cent. Even Manmohan Singh, the quietly spoken prime minister who – as finance minister in the early 1990s – helped dismantle some of the obstacles to rapid expansion, has said 10 per cent growth is a reasonable medium-term proposition. Last week, K.M. Chandrasekhar, the government's cabinet secretary, became the latest official to conjure up the double-digit genie, saying it would become reality if only the farming sector could be prodded into a modest 4 per cent growth.

Morgan Stanley's Stephen Roach, who has just returned to New York after three years in Asia, has long stressed India's potential. For years, he says, it has had a “better micro story” than China, with its world-class companies and entrepreneurs, its large English-speaking and IT-competent workforce, and its prudently regulated banking system.

Now, he says, India is steadily overcoming its “macro-deficiencies”. Its gross domestic savings rate soared from the low-20s as percentage of output in the late-1990s to the high-30s by 2008. Foreign direct investment, though not yet at China's ear-popping heights, has quadrupled since 2005 to a very handy $40bn. Similarly, though ambition continues to run ahead of reality, India has become serious about improving its woeful infrastructure. Putting all this together, Mr Roach reckons it could emerge as “Asia's biggest surprise in the years immediately ahead”.

What would need to happen?
Is it time for India's tortoise to turn on the speed? Do you believe the author’s viewpoint ? We can discuss at different perspectives, such as institutions, cultures and external environment.

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China has its 30-year record of double-digit growth
sure
but
History will not repeat itself

great！go go!

Follow: 15......15


My point
Growth rate is not the point, and the key is growth mode. Indeed China keeps an average two-digit growth rate during the past thirty years, however its economic development is extensive, expending so many resources and over-relying onlow-cost labor. In contrary, India has better microeconomic story andmacroeconomic prospect. In microeconomic story, it has world-classcompanies and entrepreneurs, large English-speaking and IT-competentworkforce, and prudently regulated banking system. In macroeconomic prospect, India's gross domestic savings rate soared from the low-20s as percentage ofoutput in the late-1990s to the high-30s by 2008. Foreign direct investment, though not yet at China's ear-popping heights, has quadrupled since 2005 to avery handy $40bn. Similarly, though ambition continues to run ahead of reality, India has become serious about improving its woeful infrastructure.

Words and sentences

fall back on：退到、求助于、借助于
tortoise-and-hare ：龟兔赛跑

gleaming ['gli:miŋ]
n. 微弱的闪光，瞬息的一现
adj. 闪闪发光的
v. 闪烁， 隐约地闪现（gleam的ing形式）

skyscraper ['skai,skreipə]
n. 摩天楼，超高层大楼；特别高的东西

falter ['fɔ:ltə]
vi. 支吾；蹒跚地走
vt. 支吾地说；结巴地讲出
n. 踌躇；支吾；颤抖
vi.支吾；蹒跚地走
n.踌躇；支吾；颤抖

authoritarian [ɔ:,θɔri'tεəriən]
adj. 独裁主义的；权力主义的
n. 权力主义者；独裁主义者

measured pace：循序渐进，按部就班

The implication is that, while authoritarian China may have raced out of thetraps, sooner or later it will falter. India, playing

the long game, will keep up a measured pace and one day surpass it.
隐含含义是，当独裁的中国可能已经跑出跑道之外，迟早他的经济发展会步履维艰。印度，注重长期发展，将
会保持循序渐进并且会在某一天超越中国。

In 1991, the year Indian reforms got going, its per capita income was roughlythe same as China's. Today, China's is more than three times higher.
在1991年，印度改革开始的时候，他的人均收入与中国基本相同。今天，中国的人均收入是印度的三倍多。

slough off ：丢弃、抛弃

lacklustre ['læk,lʌstə]
n. 无光泽；无生气
adj. 无光泽的；无生气的

streak ahead
跑在前面

analogy [ə'nælədʒi]
n. 类似；类推；类比

dismantle [dis'mæntl]
vt. 拆除；解散；取消；除掉…的覆盖物
vi. 可拆卸

conjure up：想起，使在脑海中显现；用魔法召唤

prod [prɔd]
n. 刺针；刺棒；签子
vt. 刺，戳；刺激
vi. 刺；捅
prodded：推动

soar from...to：从...增长到

ear-popping：按照我的理解，应该是耳熟能详的

quadruple ['kwɔdrupl, kwɔ'dru:-]
adj. 四倍的；四重的
vt. 使…成四倍
vi. 成为四倍
n. 四倍

Similarly, though ambition continues to run ahead of reality, India has becomeserious about improving its woeful infrastructure.
相似地，尽管野心仍然领跑于现实(空有雄心壮志，没有现实基础)，印度应经开始重视改善其薄弱的基础设施。

Follow 22 22
I had just finished this test on the FTchinese~ My WPM is 150 while the average is 20.8 and the Precision Rate is 3/4. If other followers are interested in it you could try to read as fast as you can and finish the answer. Exactly, a WPM of 500 and keep the accuracy should be both important while reading.
So now talk about this article, As everyone had known, China really come to a kick point of development. We could no longer attract the investment by the cheap labor, actually we could not keep that since the potential commotion caused by big income gap, but the developing  of innovation. The Chinese obligatory education is more outstanding that every other one but in this global competitive situation what the Chinese need is a Elite education to cultivate the PhDs. Maybe we could analysis it with a BCG matrix of Strategy Management analysis. We could regard Education as the Star. The growing economy of processing industry should be a cash cow, Chinese government should adjust their financial expend to education and give some new policy to Higher Education such as encourage people to founded university like the South Science and Technology University.Or not, then the hare lose the Game.

it has had a “better micro story” than China, with its world-class companies and entrepreneurs, its large English-speaking and IT-competent workforce, and its prudently regulated banking system.
except the culture!
本文来自: 人大经济论坛 真实世界的经济学 版，详细出处参考：https://bbs.pinggu.org/viewthread ... amp;from^^uid=2205946

9    9
rich-poor gap is goo big in India..

作者说的有道理

19,19
I am reading "Black Swan" these days.This book says that it is the rare and extreme incident changes the real world. There is no use to predict from "average" trend, because the trend concluded from history maybe fake. Both China and India has good stories, and emotionally, I believe China will continue to be better in the future.
I have never been to India and even konwn little about it, neither about China perhaps. Professor Zhang Jun's book told me that India's infrastructure fell far away behind China. Some other information let me konw India's democracy is not an advantage which appreciate by the Washington Consensus. We live in an era of Beijing Consensus. When refering to the future, only the future knows.