India should not try to replicate China, says US expert

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Agencies

Posted online: Wednesday, February 27, 2008 at 04:51:52
Updated: Wednesday, February 27, 2008 at 05:11:45

New Delhi, February 27: Warning the policy makers of grave environmental consequences, a US expert on Chinese affairs on Wednesday cautioned India against replicating the growth model of the world’s most populous nation.

“China’s approach to growth is not something India or anyone else should try to emulate in whole, especially in the light of the environmental and resource security side effects”, said Principal of the US-based China Strategic Advisory Daniel H Rosen.

Talking about the lessons to be learned from the Chinese growth, he said India should not ignore the consequences of “a singular preoccupation with BOP (Balance of Payment) surpluses.”

Rosen, who is also a visiting fellow at Peterson Institute and Adjunct Associate Professor at Columbia University, said this while delivering a talk on “Revaluation of Chinese currency and its implications for India” organised by the Aspen Institute-India.

Referring to the impact of a likely appreciation of Chinese RMB by 15-20 per cent by December 2009, he said India could immensely benefit from the hardening of the currency “if it get its trading infrastructure in shape in time.”

India, the US expert said, should also try to develop systems to deal with sudden adjustment in pricing of Chinese goods as a result of currency appreciation.

Rosen further said while Indian exporters would benefit from appreciation of RMB, the imports from China would become expensive.

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