FE Editorial : The China opportunity
The good news, as outlined in FE columnist Surjit Bhalla’s new book Devaluing to Prosperity, is that there’s a big opportunity for India. Bhalla spoke of how, thanks to the strengthening renminbi and a dramatic surge in China’s wages, India has a big gap to exploit—according to a CII-BCG study released on Tuesday, since 2009, Chinese wages have increased almost 15% per annum versus 1.8% for the US and 0.7% for the EU—not surprising then, that the world’s largest chopsticks factory is located in, if you please, the US. Indian wages increased 4% per annum. Which is why CII-BCG talks of a big opportunity for India to become the Germany of the East. At stake is $350 billion of incremental GDP and around
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