Straight to the Point -
China is the only country in this world which is competing with United States head to head in terms of Economy, Defence and Technology and more.
Not even competing but way ahead and better than the United States in many terms.
But how this happened ? How China became so Rich and Powerful in last 4 decades ?
AGRICULTURE & TEXTILE TRANSFORM
When Den Xiaoping came into the power he realised that Large workforce will be the asset for China's growth. Soon he started working on Agriculture sector. China straightaway released the control from all the farming lands and pushed agri sector towards privatisation which eventually took Farmers of China out of poverty and the country which was facing food deficiency earlier, now became food surplus country.
Income of majority of farmers increased rapidly.
Due to this transformation in Agriculture sector China also became the world's largest producer of Cotton in early 1990's.
All this happened by promoting Private Ownership.
Den Xiaoping now focused on converting Unskilled Population Force to Skilled Force. China firstly started focusing on educating majority of their population by providing FREE Education (Education cost to be bear by Government).
Starting with this, China made 9 Years of schooling, training, internships etc compulsory for their population including Tech and Vocational Education.
Due to this step China started producing Cheap and Quality Labours which turned China into Electronics Manufacturing Giant.
When the demand of electronics was increasing in early 1990's, China realised the importance of this demand and entered into Electronics Manufacturing. China Offered great incentives and manufacturing land to giants like SAMSUNG, LG, SONY, HP, DELL, APPLE, etc to set up their plants in China along with cheap and skilled labours.
On the other side, Chinese people started exploring the methods and technologies of these big electronics companies and then worked on setting up their own electronics company which later on made them the Electronics Giants of the world. This step also helped China to develop their amazing Infrastructure and Economic Zones.
By this step COPY CAT CULTURE was born.
COPY CAT CULTURE
China was now capable of manufacturing its own electronic gadgets at a very cheap rates. There was a sudden boom for Chinese Gadgets in third world countries. Today brands like VIVO, XIAOMI, REALME, ONE PLUS and many more are ruling the world.
Also when companies like Microsoft, Google, Facebook, Amazon were rising in the USA and other parts of the world, China again offered them amazing incentives which allowed these US Giants to open their Research Parks and Labs in China which helped Chinese People to grow in Information Tech sector also. Again this amazing step helped china to copy service sectors too. Companies like ALIBABA, TENCENT, BAIDU were bown in these wave.
One side when the whole world is dependent on USA Giants for services like Search Engine, E-Commerce, Social Media, Messaging, Mobile Phone and many more, China focused on their own development by banning American Giants in their country and promoting their own companies like Baidu, QQ, Alibaba, JD, WeChat which later on helped China to compete USA and Russia in Artificial Intelligence, Cloud Services and Cyber Security.
Today China is not at all dependent on other countries.
BELT ROAD INITIATIVE
China's biggest mission is to complete its old dream Belt Road Initiative. China is highly serious for this mission because of which it started investing in poor countries like Pakistan, Sri Lanka and many African & Europe Countries badly. China is known for giving the loans on a very high interest which eventually turns poor country into slave for China.
China is also surrounding INDIA by using this method which could be a headache for INDIA in coming future.
COST OF CHINA GROWTH - NO DEMOCRACY AND FREEDOM OF SPEECH, NOT AWARE OF OUTSIDE WORLD, FORCED LABOURS.
BENEFITS OF CHINA GROWTH - MAJORITY CHINESE ARE NOW OUT OF POVERTY, AMAZING AND CUSHY LIFESTYLE, SELF DEPENDENT, TOWARDS SUPER POWER, HIGHLY AUTOMATED (MORE THAN USA).
In 1991, economy of China and India was almost same. Today China is growing fast and will replace USA in future in terms of Economy and Super Power.
India currently stands at 2.87 Trillion USD Economy. If India really wants to compete with CHINA then INDIA should become self dependent in every sector whether Technology or Hardware. India is becoming large and large slowly but its a dependent economy. In terms of Technology we are dependent on USA, in electronics we are dependent on CHINA, in defence we rely on RUSSIA, FRANCE, ISRAEL.
Also India is good with many factors like Agriculture, IT, Services but its not sufficient to take INDIA to newer heights.