I was reading the the books of Prof Pankaj Ghemawat regarding
After the GATT was drafted and signed by all the countries in
the nineties ,many people felt very skeptical about the future
of their own countries in the future.
The agreement by Arthur Dunkell was a remarkable achievement in
the global economy.
Apparently it seemed the process economics of the world would benefit,
as it was said " The technologically forward countries will become rich
at the cost of the technologically backward countries" but in the long
run this idea is not true.
So called in nineties "Third World Countries" of the world has become the "Emerging Economies Of The World" the GDP growth rate are much
ahead of the developed countries of the world.
There were some very wrong ideas about these third world economies.
1.Low spending economies i,e poor consumption capacities.
2.Technologically backward heavily dependent
upon foreign technology, no capacity to develop own and
3.Academically weak and poor.
4.Don't have the power to innovate
new product or services of global standards.
But these economies are now plying a stupendous role in giving
boost to the global aggregate demand , one reason the high and
favorable demographic scenario.
If you consider"CHINDIA" China and India we have to watch it
very carefully.Identification of The BRIC economic block will
be a significant part of the world economy.
It’s the success of China’s manufacturing capabilities and
India’s service sectors which is playing a dominant role in
the global economy.
Apart for the BPO and KPO , Software which has given India
sizable aadvantages over other countries is due to labor
arbitrage , where as silently India has come out with
some social engineering practice like Arvind Eye Care,
Dr Debi Shetty’sNirlam Hridalaya, the whole world is
keeping a close watch on these success stories of India.
Indian manufacturing sectors in forging of Mr. Baba Kalyani’s
Bharat Forge supplying materials to all the major auto makers
of the world like BMW, FIAT etc has made a mark in highly
competitive globalauto market.. Mr. Sanjay Lalbhai’s ,
Arvind Mills Ltd has made aninroad in the denim manufacturing
in the world and in pharmaceuticals industry like Ranbaxy,
Dr. Reddy, Cipla, which has become the brand ambassador for a
highly competitive drug market and regularly getting
their molecules passed by the FDA in U.S.A.
The concepts of Micro Credit in order to eradicate poverty and
empowering the destitute and poor in Bangladesh has been
pioneeredand successfully executed by Md Younis in the case
of Gramin Bank.
In 1971 it was Henry Kissinger said Bangladesh is nothing but a basket
nation,but this poor country is trying to stand on it’s own feet..
So underprivileged countries tow decades ago are now the growing and
potential markets for the Western and U.S MNCs.