With India's development continuing to gain steam, one of the biggest challenges will be to avoid the mistake that others have made when they failed to recognize their newly acquired global systemic influence and adapt accordingly. Both China and Big Tech show that it is never too early to start managing one's own rise.
CAMBRIDGE/MILAN – India’s recent economic success, solid momentum, and promising prospects are making the country ever more influential both regionally and internationally. But the experience of other countries – most notably China over the last three decades – suggests that such rapid influence and robust progress can be tricky to manage. After all, an action that makes sense domestically may conflict with what other countries expect from a systemically important economy. By the same token, actions that make sense internationally could complicate domestic economic progress.
CAMBRIDGE/MILAN – India’s recent economic success, solid momentum, and promising prospects are making the country ever more influential both regionally and internationally. But the experience of other countries – most notably China over the last three decades – suggests that such rapid influence and robust progress can be tricky to manage. After all, an action that makes sense domestically may conflict with what other countries expect from a systemically important economy. By the same token, actions that make sense internationally could complicate domestic economic progress.