Tortoise or Rabbit � Who will win the race Lessons to be learnt from Economic Decline of China

Dr. Ashish Singh

Volume : IV, Issue : XI, November - 2015

Tortoise or Rabbit � Who will win the race Lessons to be learnt from Economic Decline of China

Dr. Ashish Singh

Abstract :

I have heard the story of tortoise and rabbit race at least hundred times from my daughter, who ends it with the sentence saying that �tortoise wins the race and gets money as the prize�. This thing looked rubbish to me till I heard of economic decline of China. Then I realized that these small stories, taught at school have strong foundations behind them. They are true in hundred percent cases. The fast pace at which China rose can be compared with rabbit. And the fast pace at which it face the decline in economy can be thought as rabbit losing the race. On the other hand, India is considered as a slow economy, much like a tortoise. It witnesses a change, but at the best. It is growing at small pace, much like a tortoise. This article is written to explore the root causes behind economic meltdown of China, and to learn the lessons behind it.