I read a very interesting treatise last evening where the economies of China and India were compared and some predictions offered. No need to rabbit on; put simply, everything the Chinese make they export. Almost all that the Indians manufacture is consumed at home.
So? Well, Chine relies on other nations’ consumption and as 60% of what they make goes to USA and they’ve stopped spending, as has Europe, their economy is rushing sideways and in some sectors, backwards. Not good news for the Aussies and other selling raw materials to them. Still good for NZ though, as the huge demand for food in China has outstripped their ability to produce.
India though is different; what they make they consume internally. In fact, demand for almost everything you might imagine is such that import pressure is constant. Again, some NZ food products and byproducts.
The author of the article conjetcured that the Indian manufacturing and IT sectors could well become world dominant within three years while China would slow and stagger. NZ, he felt, and this was an Aussie writing, would do just fine. Nice.