The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us
"A comprehensive primer on the development of these Asian tigers."—Noam Lupu, San Francisco ChronicleThe Elephant and the Dragon is the essential guide to understanding how India and China are reshaping our world. With labor now unbound from geographic borders, we're seeing startling shifts in how—and where—nearly everything we buy is made. In a compelling mix of history and on-the-ground reporting, veteran journalist Robyn Meredith untangles the complex web of business and politics, as well as environmental and cultural issues that entwine India, China, and the West. She also outlines how Americans—business leaders, workers, politicians, even parents—can understand the vast changes coming and thrive in this new age.
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Editorial Reviews
From Publishers Weekly
Meredith, who covers India and China for Forbes, upends conventional wisdom in this well-reported book, arguing that the U.S. shouldn't fear these two rising economic powers. The U.S. (buyer to the world) and China (factory to the world) have, respectively, the largest and fourth largest economies, but they will reach parity in 2015. Though American politicians tax Chinese goods, Meredith points out that Americans actually gain from the undervalued yuan: our companies profit from the cheap goods the Chinese manufacture. Meanwhile, India (backoffice to the world) has picked up most of the one million white-collar jobs that moved out of the U.S. by 2003. But Meredith notes that for every dollar that goes overseas, $1.94 of wealth is created—all but 33 cents of which returns to the U.S. Protrade and antiprotectionist, she makes a compelling argument that China is doing better than India because it moved toward a market economy in 1978, while India began to liberalize in 1991. She also looks critically at each country's plans for the future, noting that China's citizens save more, while India's infrastructure and education system are falling behind. She concludes that if inward-facing India and communist China can transform themselves, so can the United States of America. (July)
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From Booklist
Meredith, a foreign correspondent, describes the global power shift occurring in India and in China as computers continue to change the way business is conducted. The U.S. and Europe have lost both low- and high-paying jobs to these countries, and there are other factors at play, such as the unquenchable global thirst for oil and massive environmental issues. This is a complicated story because as jobs are lost, cheap goods are being imported and sold at low prices to American consumers, and some retailers' stock prices are rising, to the benefit of workers' 401K accounts. The author notes, "In this decade, a clear pattern emerged: China became factory to the world, the United States became buyer to the world, and India began to become back office to the world." In this thought-provoking and well-researched book, the author advises that the U.S. must strengthen its education system, promote innovation, forget about protectionism or unfettered free markets, and focus on creating jobs. Whaley, Mary
Review
A comprehensive primer on the development of these Asian tigers. -- San Francisco Chronicle, Noam Lupu
Fast-paced, readable and revealing. -- International Herald Tribune, Chris Nicholson
Robyn Meredith neatly navigates between the boom and the gloom. -- Wall Street Journal, Matthew Rees
Customer Reviews
A good but limited account of China and India
Robyn Meredith's book, The Elephant and the Dragon, describes and compares the recent political and economic developments in India and China and purports to state the meaning of these changes. Meredith is a foreign correspondent for Forbes magazine. Accordingly, her book is filled with facts and figures, but it is largely a superficial account written by someone on the outside looking in. By comparison, James Kynge's book, China Shakes the World, also by a financial writer, is an insiders account in that Kynge has lived in China since 1982, speaks the language fluently and has an understanding of the country that only someone with a long standing experience in it can have. Meredith lacks that background and thus that understanding. Her book is a useful, but limited account. She largely gets the main points accurately, but does not provide the kind of insights necessary for a solid understanding of these two countries. The book is worth reading, but to truly understand the meaning of India and China you should look beyond it.
For example, I lived and worked in India (New Delhi) for one year. My apartment was in Defense Colony, a middle class neighborhood. Every morning I would sit on the balcony of my second floor apartment having breakfast. A woman, a servant in the house across the street, would come out and sweep the trash from in front of her house to the front of the house next door--and leave it there. This example epitomizes the problem with India. Problems are not solved, but merely shifted from one place to another. People with some degree of wealth and success do not see the need to share that success with their neighbors. There are so many poor and needy people that a sense of hopelessness (or selfishness) pervades most of those who are relatively well off. The government is so hopelessly enmeshed in bureaucratic rules and regulations that it cannot act or acts too slowly. In sum, it takes someone who has lived in India for an extended period to really understand the nature of the country. Meredith lacks that kind of understanding and thus sees the potential upside without fully realizing the downside. She does discuss some of these problems--the slums in Mumbai, the bad roads and generally poor infrastructure, the illiteracy, etc. but in the end she seems mesmerized by the glitter of Bangladore.
One problem is that the topic is huge and cannot be adequately covered in a book limited to some 200 pages. Another is that her writing style is stilted, filled with repetitions and is stereotypically what one might expect from a financial writer. One particular irritant to me is her repetition of the word "tectonic." Admittedly, after a dull beginning, Meredith does make the book more interesting by relating personal stories and examples. For the most part, the book alternates chapters between the two countries on such topics as the kind of businesses being developed in each country, culture and politics.
The main ideas of the book are (1) both countries have begun to take off economically; India later (starting in 1991) and slower (6% or so growth per year) than China (starting in 1978 and 9-10% growth annually.) (2) India, given its large English speaking population and poor infrastructure, has focused on service jobs, while China, given its good level of basic education and strong infrastructure, has emphasized manufacturing. (3) India's growth has been hampered by its changing political system and the demands of its people for immediate improvements, while China has benefited from an authoritarian political system that can impose its will on a largely compliant population. (4) Both countries face enormous problems such as pollution and potential political strife (India with Pakistan and China over Taiwan).
Finally, I cannot agree with Meredith's conclusion that India and China will join the United States in the future as the three great superpowers. In my view the European Union, which Meredith largely ignores or denigrates, China and the U.S will form this group and that India will, at best, be a part of a second group (including a reviving Russia and an emerging Brazil) of economic powerhouses.
In the end I give the book 4 stars because I think it is worth reading and Meredith does get it right for the most part. But you have to go beyond her book to really understand what is happening is these countries.
The rise of two countries.
A solid expose about the strengths and weaknesses of India and China. Many individuals view these two competitors as superstar economies, but Meredith points out that both countries have some great strengths but also huge weaknesses. When you think of India and the growth of technology, one thinks of super smart computer programmers doing the jobs that Westerners once did. However, as Meredith reports, 35% of Indians cannot read. Simarilarily with China, one thinks of super cheap workforce with great productivity. However, China's government subsidizes the West through a cheap currency, and their political system is balanced on a population that may overthrow it. America's goal is to compete with these two giant countries with a smart, innovative workforce in high technology. Only through this method will the USA be competitive five to ten years down the road.
This is a great book to read about the rise of China and India. All Americans should take interest in what Meredith says because their job may depend on it. Only by being smart and innovative will Americans prosper in a world where India and China compete.
Elephant and Dragon review
I purchased this book when studying Marketing in an International Context. I wanted to find out about this emerging power centre in the East as the business focus is increasingly shifting in this direction. I found this book explaining the situation in a very comprehensible way. I already knew some of the things presented in the book, but it also changed the way I was looking at this part of the world. This book puts the global economic power shift into context leaving the reader with a fresh pair of eyes when discussing issues such as economies of scale, supply chain management and international business.
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