Then why isn’t India doing as well as China economically? They had the same chance to undercut US labor costs in order to industrialize. However, they could not capitalize on that opportunity as successfully as China did. It’s almost as if Chinese economic policy and central planning played a large role in their development. It’s also pretty clear that China is actually become less dependent on US demand as their own internal economy grows.
This isn’t a one time experiment either. Vietnam is following a similar path and has grown much faster than many comparable south east asian countries.