India will outpace China in growth |
Indian economy will grow faster than China despite the temporary slowdown created by demonetisation, an Indian—origin academic and former Singaporean diplomat said at a conference of leading world universities. Even if the demonetisation created a slowdown, it is not going to change the long-term momentum of where India is going with its economic growth, according to Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore. Concluding a three-day conference attended by educators from leading universities from across the world that make up the Association of Professional Schools of International Affairs, Mr. Mahbubani said demonetisation was good for Indian economy in the long-term. The Reserve Bank of India will need to borrow less after the cash returns to banks following demonetisation. The world is moving from unipolar to multi-polar which is good for small states because they will have more options.
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