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Yes there is corruption in India and there is corruption in China, systemic corruption in any country becomes a service, bribes are a way to pay for the service
by naruvimama 6y ago
Yes there is corruption in India and there is corruption in China, systemic corruption in any country becomes a service, bribes are a way to pay for the service.
Granted it is not nice to have corruption and it introduces gross inefficiencies. But that isn't the primary reason India is lagging behind China, nor is it entirely because of a lack of free markets.
One excellent example would be solar power, India could pool its market capacity, technological ability and finance to have built up a huge ecosystem, but instead it went the route of importing everything, even as it goes about building some of the largest solar projects in the world.
The Chinese are wealthy because they would never let go of such a golden opportunity.