Why Should India Develop Relationship With Japan?
CHAPTER V
WHY SHOULD INDIA DEVELOP STRATEGIC RELATIONSHIP WITH JAPAN
With the end of the cold war, New World Order had emerged in which economic equations have taken the front seat and in this New World Order Japan has been given great power status where Japan is trying not only to boost her own economy but also the sagging economies of other East Asian countries.
Japan’s regeneration from the rubble and ashes of the Second World War has always been the subject of admiration for India, which has also embarked on the path of economic liberalisation and global integration. But the relationship between India and Japan has been tinctured by disappointed expectation and distorted perceptions. However this, post Cold War era …show more content…
India cannot deny the need to exploit the potential whose per capita income after independence did not even double but increased only by 92 percent and so serious attempt has begun in early 1990s.In 91-92 the balance of payment crisis left India with limited choice. And thereafter, India choose to open doors to foreign trade and capital instead of letting the Asian miracle pass her by and so today despite of poverty, financial scandals, political violence India’s growth is accelerating and it is attracting money from abroad. As a result, India is now the third-largest economy in Asia and the twelfth largest in the world. In order to maintain the pace and further exploit the potential, the process of integration of India’s developing economy with one of the developed economies of the world has to be speeded up. The major changes taking place in Indian economy due to new economic policy and liberlisation are as under: …show more content…
in economics sphere as both has certain similarities such as U.S.A. is the strongest democracy and India is thelargest one. U.S.A. is the largest economy of the world and India provides the largest free market and has great potential for economic development. Theoretically it sounds very promising but it is not so.The American perception of profit-making, ploughing back the profits into expansion and growth and creation of wealth through savings, capital formation, technical change and extensive R & D allocations in enterprises evoked as much attention as the anti-trust and anti-monopoly laws adopted in the U.S. Yet it cannot be a model for our socio-economic development for various reasons. Firstly there is a wide cultural, structural and social gap between the world’s most advance nations and the poorest. Secondly after independence India adopted socialism where US economy is based on capitalist thinking. Thirdly with the end of the cold War and emergence of US as the super power the rift between US and India emerged as India was based on Soviet model. In the mean time during 60’s and 70’s US surpluses were diminishing and Washington’s need to export more to improve its BoP conflicted with India’s
WHY SHOULD INDIA DEVELOP STRATEGIC RELATIONSHIP WITH JAPAN
With the end of the cold war, New World Order had emerged in which economic equations have taken the front seat and in this New World Order Japan has been given great power status where Japan is trying not only to boost her own economy but also the sagging economies of other East Asian countries.
Japan’s regeneration from the rubble and ashes of the Second World War has always been the subject of admiration for India, which has also embarked on the path of economic liberalisation and global integration. But the relationship between India and Japan has been tinctured by disappointed expectation and distorted perceptions. However this, post Cold War era …show more content…
India cannot deny the need to exploit the potential whose per capita income after independence did not even double but increased only by 92 percent and so serious attempt has begun in early 1990s.In 91-92 the balance of payment crisis left India with limited choice. And thereafter, India choose to open doors to foreign trade and capital instead of letting the Asian miracle pass her by and so today despite of poverty, financial scandals, political violence India’s growth is accelerating and it is attracting money from abroad. As a result, India is now the third-largest economy in Asia and the twelfth largest in the world. In order to maintain the pace and further exploit the potential, the process of integration of India’s developing economy with one of the developed economies of the world has to be speeded up. The major changes taking place in Indian economy due to new economic policy and liberlisation are as under: …show more content…
in economics sphere as both has certain similarities such as U.S.A. is the strongest democracy and India is thelargest one. U.S.A. is the largest economy of the world and India provides the largest free market and has great potential for economic development. Theoretically it sounds very promising but it is not so.The American perception of profit-making, ploughing back the profits into expansion and growth and creation of wealth through savings, capital formation, technical change and extensive R & D allocations in enterprises evoked as much attention as the anti-trust and anti-monopoly laws adopted in the U.S. Yet it cannot be a model for our socio-economic development for various reasons. Firstly there is a wide cultural, structural and social gap between the world’s most advance nations and the poorest. Secondly after independence India adopted socialism where US economy is based on capitalist thinking. Thirdly with the end of the cold War and emergence of US as the super power the rift between US and India emerged as India was based on Soviet model. In the mean time during 60’s and 70’s US surpluses were diminishing and Washington’s need to export more to improve its BoP conflicted with India’s