Legislate foreign lessons

Taking up the case of workers in developed countries and arguing for equitable growth in India and China, economist C.P. Chandrasekhar writes in 8216;Economic Notes8217; that exports of hi-tech manufactured products from China and of software and IT-enabled services from India raise fears of the threat from these two countries 8212; based on their 8220;knowledge capital8221; base 8212; to growth in the rest of the world, including developed countries. But, the two countries are only 8220;important bases8221; for knowledge-based production of exportable goods and services of which the beneficiaries are the transnationals from the developed countries. The workers in these countries don8217;t benefit from this growth and fear job losses. In essence therefore, 8220;it is not India and China that need to be feared by developed country citizens, but their own home grown transnationals who have taken wing,8221; says the author. While expansion of exports is accompanied by a high GDP growth rate in these countries, leading to a larger presence of India and China in the global economy, there lies a difference between 8220;knowledge in8221; and 8220;knowledge for8221; the production of goods and services. 8220;While knowledge is being applied in production in these countries, the US still monopolises the control over knowledge.8221; India and China are 8220;instruments of battle for transnationals.8221;

China8217;s human resource

When CPIM member Tapas Sinha, during his visit to China in August, asked leaders there whether a huge population was an impediment to development they 8220;answered with a big smile8221; that the best resource in the world was human resource. 8220;We use them in our development,8221; they told Sinha, who went to China as part of an Indian youth delegation from the UPA and Left parties. 8220;What is important to remember here is that the foundation for such a remarkable growth has been laid by the revolution and the Communist Party which led it. Today the Chinese are brimming with self-confidence, self reliance and developing productivity with the full-hearted participation by the people,8221; writes Sinha. He refers to his visits to industrial zones where joint ventures and foreign companies were getting attracted along with nationalised companies, but the pre-requisite is that all products must be produced in China to boost employment. He sums up saying that China is experiencing faster growth economy, but not without problems; he doesn8217;t list them.

8212; Compiled by Ananda Majumdar

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