US slowdown presents opportunities for India, China: Official

[OhioChick]

Source: Economic Times India

18 Feb, 2008, 2053 hrs IST, PTI

NEW DELHI: The slow down in the US economy provides opportunities for India and China to sustain economic growth through increase in demand and consumption, a senior Chinese official said on Monday.

"Chinese and Indian economies are highly complementary and have great potential for bilateral trade and investment relations," Deputy Chief of the Policy Research Office, Central Committee, China, Zheng Xinli said at a CII conference here.

He said slowing down of the US economy should enable both countries to sustain economic growth.

The target fixed during President Hu Jintao's visit to India in 2006 to increase bilateral trade to 40 billion dollars by 2010 is also expected to be achieved this year, Xinli said.

India and China have common challenges in agriculture, rural industry and social security, he said, adding that China could learn from India in the services sector.

Read more: http://economictimes.indiatimes.com/International_Business/US_slowdown_good_for_India/articleshow/2793048.cms

[trthnd4jstc]

1. Though I know that Socialism is Hated and Dispised, Maybe...

We ought to have government owned businesses which will help the American People, and our Nation to compete in the international market in areas that private industry has already outsourced the jobs. There are areas of industry that our nation should possess that the Republicans have chosen to outsource, the facts I will research and put out later, when I have time.

[cliss]

2. China + India?

I have a hard time believing that these 2 superpowers would work together. I think there is a lot of bad feelings between the two.

Also, I believe China is going to be the big loser in the upcoming U.S. meltdown. They will see hundreds if not thousands of factories shutting down, simply because the US consumer is tapped out. There is overproduction worldwide, and their economy will suffer because this will be a worldwide thing. It will start in the US, but then it will spread to other countries in particular Europe.

India on the other hand, should fare much better. They have not had the explosive growth that China has, even though they have boomed in these last few years.

After all, they've got Mangoes.