I didn't see the hope of India for industrialization. Democracy and free trade keep a country from realizing industrialization.
Capitalism means the greed for profits. The greed helps to develop efficiency and apply high technologies, like America. It also creates stock market and real estate bubbles. And, it can never never automatically entre into industrialization if not profitable.
Democracy means that people do things out of their mind. Free trade means that the baby industries suffer the 100% competitions from the mature foreign industries. Under this framework, the only way of making capitalism choose industrialization is to subsidy and keep low-price advantage to battle the foreign producers. But, India can not earn enough money from its 5 percent of IT population to support subsidy. No agricultural countries can do this. Its international balance will be in trouble.
India will keep being an agricultural country. The best future about India is like South Latin Americans of 2001: serious international payment crises. We should thank Mao Zedong and other communists from 1950s to 1980s for the basic industrialization. Without the basic industrialization, the present industries are impossible to be profitable. Unprofitability means the missing of capitalism. Then, we can never increase the efficiency of the industries. Capitalism is like Yang Zhenning. He can go back now and enjoy the comfort (and the gift from the God). Through his help and contacts, Tsinghua university (Beijing) can obtain a big amount of research fund through Charity. But he would never give up the good life of America and came back China in 1950s to start the initial stage of hardship.
And also, the more important, without Mao, we will never have so many technique professionals, which is actually the most difficult part of industrialization. German and Japan almost lost all of the industrial buildings and machines in WW II. But they can rebuild very fast, because they still have a large amount of the professionals existing.
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