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224 pages, Paperback
First published October 1, 2013
As always, here are some interesting passages:
About China:
"China will inevitably catch up to the U.S. in absolute GDP. But its creativity may never match America’s, because its culture does not permit a free exchange and contest of ideas."
"China faces enormous economic problems—a disparity in income between the rich coastal cities and the inland provinces, and in income within the coastal cities. They have got to watch that carefully or they might get severe discontent and civil disorder."
About Singapore, and speaking a universal language:
"While Singapore shares with China many of the core philosophical tenets of Confucianism, we worked over the past 40 years to establish English as our first language, and Chinese as the second. Why? Certainly not by accident or without provoking strong opposition. We did so to open ourselves to the world and allow ourselves to engage and embrace the main forces of discovery and invention and creativity that occur not only in the language but also in the mentality of English."
About the US:
"What has made the U.S. economy preeminent is its entrepreneurial culture…Entrepreneurs and investors alike see risk and failure as natural and necessary for success. When they fail, they pick themselves up and start afresh."
"For the next 10, 15, 20 years, the U.S. will remain the most enterprising, innovative economy because of its leading-edge technology, both in the civilian and military fields…You will lose that gradually over 30, 40, 50 years unless you are able to keep on attracting talent, and that is the final contest, because the Chinese and other nations are going to adopt parts of what you have done to fit their circumstances, and they are also going around looking for talented people and building up their innovative, enterprising economies."
"The American culture…is that we start from scratch and beat you. That is why I have confidence that the American economy will recover. They were going down against Japan and Germany in manufacturing. But they came up with the Internet, Microsoft and Bill Gates, and Dell…What kind of mindset do you need for that? It is part of their history."
About difference of ideologies between the East and the West
"One fundamental difference between American and Oriental culture is the individual’s position in society. In American culture, an individual’s interest is primary. This makes American society more aggressively competitive, with a sharper edge and higher performance."
About democracy, and its fractured system:
"Presidents do not get reelected if they give a hard dose of medicine to their people. So, there is a tendency to procrastinate, to postpone unpopular policies in order to win elections. So, problems such as budget deficits, debt, and high unemployment have been carried forward from one administration to the next"
"America must have leaders who are prepared to lead and know what is good for America and do it, even if they lose their reelection. A system of governance that does not allow them to do a quiet U-turn when they identify problems is malfunctioning.
"Security, prosperity, and the consumer society plus mass communications have made for a different kind of person getting elected as leader, one who can present himself and his programs in a polished way…I am amazed at the way media professionals can give a candidate a new image and transform him, at least superficially, into a different personality. Winning an election becomes, in large measure, a contest in packaging and advertising…A spin doctor is a high-income professional, one in great demand. From such a process, I doubt if a Churchill, a Roosevelt, or a de Gaulle can emerge"
"Contrary to what American political commentators say, I do not believe that democracy necessarily leads to development. I believe that what a country needs to develop is discipline more than democracy. The exuberance of democracy leads to undisciplined and disorderly conditions which are inimical to development. The ultimate test of the value of a political system is whether it helps that society to establish conditions which improve the standard of living for the majority of its people, plus enabling the maximum of personal freedoms compatible with the freedoms of others in society."
"When you have popular democracy, to win votes you have to give more and more. And to beat your opponent in the next election, you have to promise to give more away. So it is a never-ending process of auctions—and the cost, the debt being paid for by the next generation"
About wealth generation vs welfare:
"There will always be a tussle within societies, as underachievers want more support, but addressing their needs must be done in a way that does not kill incentive."
About India, and the limitations of its current democratic system:
"Indians will go at a tempo which is decided by their constitution, by their ethnic mix, by their voting patterns, and the resulting coalition governments, which makes for very difficult decision-making.3 It is part of the constitutional system which has been accepted by the people and is established now. There will be a constant tinkering around with state boundaries, linguistic affinities, caste quotas…All those adjustments detract from a dynamic meritocracy and prevent India from maximizing its potential."
"I am against a society which has no sense of nurturing its best to rise to the top. I am against a feudal society where your birth decides where you stay in the pecking order. The example of that, par excellence, is India’s caste system."
"India is such a diverse country—it is not one nation, but 32 different nations speaking 330 different dialects…In China, it is 90% Han Chinese all speaking the same language, with different accents, but reading the same script. If you stand up in Delhi and speak in English, out of 1.2 billion people, maybe 200 million will understand you. If you speak in Hindi, maybe 250 million will understand you. If you speak in Tamil, 80 million people will understand you."