Walt, can we have a book report when you're done? This sounds like a book I would like to read. Thanks in advance.
It's and interesting perspective on two large countries trying to play "catch-up" in modernization. The author's take is that China, although a communist country, has embraced capitalism and has poured billions into infrastructure (roads, airports, factories) to become the "factory to the world". Given the difficulty in finding stuff that
isn't Made in China, they're succeeding.
India is seriously lacking in infrastructure, but excels in finance, business, and software development. Essentially, if the work can go out over a wire that's where they're focusing their efforts. Their infrastructure is still mostly third-world and the culture is a block to changing that.
Both have an upcoming middle class, China's expected to peak in about five years, India in about ten, based on the demographics, according to the author.
The book was a library book that I've since returned but Amazon has it:
Amazon.com: The Elephant and the Dragon: The Rise of India and China and What It…
Another interesting read is this one:
Amazon.com: $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline…
If that happens soon China's "factory to the world" plans will come to a screeching halt. And I think $20-a-gallon-gasoline is inevitable. The only question is when.
I've read more about finance in the last six months than in the last six years, since with the income from this job I started a while back the money keeps piling up and I've got to learn how to better manage/invest it.
Somehow we are just not tempted by all the "toys" on the store shelves. Looking at some big-screen TVs in a store we looked at each other and asked "Why would we want that? It won't make the programs any better."