China reduce its cost of production due to the low wages can this type of revolution happened in India
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Asia’s economic groundswell is no longer breaking news, but the critical details of this transformation and its staying power are just coming into focus.
Although the growing economic stature of China and India is widely recognized, the factors underlying their success are still not well understood. The advantage of a large low-wage workforce is apparent to everyone, but that can never be the foundation of an economic superpower. True economic leadership comes only with the ability to produce high-quality high-technology goods and services and to create innovative new products and technologies. To appreciate the long-term potential of China and India, we need to take a comprehensive look at their innovative capacity.
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