Vincent Cable compares India's rising momentum to China's slowing growth

Sir Vincent Cable, former UK business secretary and author of a new book on the rise of China and India, discussed how the two nations are reshaping the world economy. He explained that China built its wealth through large-scale manufacturing, now accounting for about one-third of global manufacturing value added, whereas India contributes roughly 3% and has focused on services within a democratic system. Cable observed that China’s economy is slowing due to a property bubble collapse, weak demand, and inefficient capital use, while India’s growth is gaining speed.

He also pointed out common geopolitical factors, including both countries' relationships with Russia, shared energy interests in the Middle East, and vulnerability to climate change. Finally, Cable warned that India should not abandon pragmatic engagement with China, especially in diversifying payment systems beyond US-linked channels.