Tortoise India should 'Just Chill', will catch up with hare China: Author of The Ascent of Money, Niall Ferguson

Harvard University professor, television historian, and author of 'The Ascent of Money', Niall Ferguson, has a reassuring message for Indians amidst global economic uncertainties. "Just chill! It's all going your way," he said, dispelling concerns about India's future in an economically unstable world. Ferguson has said that he is convinced that India's economic prospects are brightening.

Ferguson, listed among the world's most influential people in 2004 by Time magazine, said that there is a significant shift in global dynamics. He said, "After 500 years, the world is tilting back from the West to the East, where most of the people live." Drawing a metaphor from Aesop's fable, he describes India as the 'tortoise' and China as the 'hare,' suggesting that while India may not have pursued rapid growth like China, it is poised to catch up.

"The Chinese reforms were introduced way back in 1978. In 2021, the Chinese economy will be four and a half times that of India. But by 2050, India will catch up," Ferguson said during a conversation with India Today on the sidelines of Davos World Economic Forum (WEF) summit. With a fifth of the world's population projected to be Indian, he predicted that China will be only 40 percent larger than India by 2050, emphasizing the tortoise catching up and the hare slowing down.


Expressing concern about the Chinese model's long-term sustainability, Ferguson questioned the Dragon's ability to deliver both growth and political stability. He also highlights the breakdown of 'Chinamerica,' citing the Google-China dispute as a symptom.

In summary, as India embraces its role as the 'tortoise,' Ferguson encourages a calm and steady approach, confident that India's economic trajectory is set to overtake the 'hare' that is China in the coming decades.