The difficulty with definition of an economic super power is that it can be looked at from two angles. You could define it by reference to economic block, in which case there are two super powers in the world, European Union and USA. However, if you limit the definition to one specific country we have five economic super powers: U.S., Japan, Germany, China and India. We will use the latter for the purpose of this article.

Many would find it hard to believe that India can qualify as an economic super power, just as some would be surprised that I did not include United Kingdom and France in my list of economic super powers. The reason for this would become clear once we look at what makes a country an economic super power.

For centuries, some renowned economic theorists have claimed that centrally planned economies create little wealth, stifle innovation, create stagnation and encourages non-competitive business environment. Western economists have for decades campaigned against centrally planned economies while steadfastly promoting free market economies. But other economists have also predicted China’s economic super power status.

Today, I look at China and ask myself where are these economists who once claimed that there is no other way to economic development other than through free market economic policies. What explanations have they got for the emergence of China as an economic super power? I suppose they will say China is an exceptional case!

The emergence of China as a super power is due mainly to political factors and has posed the biggest surprise to free market protagonists. China emergence started way back to the days of US president Richard Nixon, when he signed a trade relationship between US and China in 1972. The president of China then was Mr Mao Tse Tung.

What Nigeria can learn from the Chinese experience is that achieving economic super power status is wholly dependent on:

1.    recognising threats and opportunities

2.    having a sufficiently skill workforce (i.e. quality education)

3.    how you managed your resources

Chinese government realised that if enough food wasn’t produced and hunger strike it’s over a billion population, they would have no choice but to rely on foreign food aid. Then they realised also that when a country relies on foreign aid it loses its political independence. In order to avoid this scenario happening China resorted to generating internal wealth.

Suddenly it dawn on China that its enormous population (it’s natural resources) that was considered its biggest threat also offers it the best source (opportunity) for its economic boon. The Chinese government then embarked on exploiting these natural resources by giving local businesses free reign to do whatever they want to do, to build and expand their factories. The objective was to create jobs and provide income for the unemployed and the underemployed.

China was then able to use its low-cost but skilled labour force to produce manufactured goods at a very competitive price that the Western manufacturing companies could not match. The twist in the tale was when Western companies realised that they have no choice but to locate their manufacturing outfits in China to take advantage the skilled low-cost labour. This investment strategy of Western corporations therefore increased the rate at which China developed.

China economy continues to grow (11.3% in 2007) at a much faster rate than previously predicted. Currently its growth rate is expected to average about 8% per annum till the year 2010.

Also following in the footsteps of China is India. India has the world second largest population. Like China, India also invested heavily on education.

India decided to create an elite technology university that only admit the best candidates in the country. The India government did whatever was within its power to ensure that politics did not interfere with the management and admissions into the university.

The turning point for India is the dot.com inspired technological revolution that led to the laying of thousands of miles of fibre-optic cable that allow India companies to easily do business with U.S. corporations.

Then India had a major break through in proving its technological know-how when computers’ clock could not recognise the year 2000. Thousands of engineers were needed at a reasonable price to convert all computers to recognise the year 2000. India became the destination to go to for these engineers and the incident offered India an opportunity to prove its worth in the technology market.

How do we relate those factors that influenced China and India economic development to Nigeria? In order to answer this question, you need to identify the factors required to become an economic super power that are common to China and India. I will classify these factors as:

1. Education, particularly in the sciences

2. Technological competence

3. Low-cost labour.

4. Enabling political environment

Nigeria government needs to increase its investment in education, so as to make educational institutions attractive places for people to want to study and attract the best lecturers. Universities should be allowed to decide their own admission policies but with appropriate checks in place to ensure they operate their admission processes within government guidelines or policies. Also institutions should be provided with funds to award bursaries to hard-up students. For example, a first class degree graduate should have automatic scholarship to do research degrees.

Funding for research in Nigeria is at an abysmal level. It is surprising that successive government in Nigeria appears not to recognise the importance of research in economic development. At present, Nigeria government has a number of poorly funded research institutions. But most of their research findings are not showcased to the general public and/or to potential investors.

However, many would see the obstacle to Nigeria achieving economic super power status as being the political environment. Do the people have the political will power? The Chinese government policy of allowing businesses to expand with government resources and at the same time allowing them to “exploit” its citizens by paying cheap wages could never had been done in Nigeria without some elites crying foul.

The obvious point to be aware of is that Nigeria is not China, no matter how much you try. The India did not achieve its current economic status by copying China’s path to success, but it looked at what it has, spots the opportunities available and used them to achieve its developmental goals.

Nigeria can achieve the same when the opportunity knocks. But it must prepare for it and the best way to do that is to have a large enough skilled technologists and enabling political environment.

Nosa Olotu, UK

Robot  Villager

# 1 The difficulty with definition of an economic super power is that it can be looked at from two a...Read the full article. Posted by Robot| 25.04.2008 23:00

Sapele Man  Villager

# 2 How do we relate those factors that influenced China and India economic development to Nigeria? In order to answer this question, you need to identify the factors required to become an economic super power that are common to China and India. I will classify these factors as: 1. Education, particularly in the sciences 2. Technological competence 3. Low-cost labour. 4. Enabling political environment Nosa Olotu This is another brilliant article. It is a timely reminder of the importance of science and technology in advancing economic development. Our government talk about it all the time but with little or no financial commitment. We need to equip and task our universities to produce the right calibre of technologists. It is not sufficient to produce graduates in sciences and technology without venture capital to fund research and technological innovations. This is the bane of the Nigerian problems. Our desire to make quick returns on any investment isn't helping matters. Posted by Sapele Man| 27.04.2008 11:02

Son of the Delta  Villager

# 3 I dont see Nigeria becoming a regional power not to talk of an economic super power.The journey is still too far for Nigeria.I hope her leaders discover the path to prosperity before the nation plunges further into poverty and ends up in calamity. Posted by Son of the Delta| 27.04.2008 11:53

Sapele Man  Villager

# 4 =Son of the Delta;4295010641>I dont see Nigeria becoming a regional power not to talk of an economic super power.The journey is still too far for Nigeria.I hope her leaders discover the path to prosperity before the nation plunges further into poverty and ends up in calamity. Son of the Delta Some economists said that about China just less than ten years before it became a formidable economy. Then look at India with corruption and slums everywhere, yet it has not stopped them from becoming what they are today. Then again, it depends on what you mean by "I dont see Nigeria becoming a regional power not to talk of an economic super power". But you remind me of what Ian Smith (Zimbabwe, then Rhodesia) and Pete Bhotha (South Africa) said about black majority rule. They both said there would never be a black majority rule in their countries. Today what do we have in these countries? One advise I can offer you is never say never. Posted by Sapele Man| 27.04.2008 12:31

Enforcer  Villager

# 5 =Son of the Delta;4295010641> I dont see Nigeria becoming a regional power not to talk of an economic super power. The journey is still too far for Nigeria. Isn't Nigeria already a regional power by all account? When you say the journey is still too far, I guess that implies the possibility is there. But let me remind you that how far your journey time is depends on your mode of travel. Can you see that? =Son of the Delta;4295010641> I hope her leaders discover the path to prosperity before the nation plunges further into poverty and ends up in calamity. Your message here goes beyond the object of this article. I know your views on issues affecting the Niger Delta. And I guess you know my views as well. Where we differ is that unlike you, I do not see Niger Delta crisis in every issue affecting Nigeria. Moving on swiftly to the article, Nigeria has history of replacing its leaders as easily as you change your shoes, when compared with most other African countries. So the possibility is there that a visionary Nigerian leader will come on board and does things from the perspective of what is good for the country. The country is already in the poverty list and calamity is an everyday thing for the common man. The question is, how do you and I ensure that those in power see this and do something permanently about it. I believe the ball has always been in the common man's court all along. Think about that. Posted by Enforcer| 28.04.2008 02:34

Sapele Man  Villager

# 6 =Enforcer;4295010854> The country is already in the poverty list and calamity is an everyday thing for the common man. The question is, how do you and I ensure that those in power see this and do something permanently about it. I believe the ball has always been in the common man's court all along. Think about that. Enforcer, I see poverty everywhere I go in Niger Delta! Posted by Sapele Man| 28.04.2008 13:42

Son of the Delta  Villager

# 7 =Enforcer;4295010854>Isn't Nigeria already a regional power by all account? No.Nigeria has only acted as one but she is not one.A failed state or a failing state cannot in anyway be a key player in regional affairs.It takes a lot to be a regional power.Nigeria lacks the moral power and technical capacity to be a regional power. My defination of regional power is not limited to the West African region but even if we decide to restrict our analysis to the West African region Nigeria is not an important regional player.In fact France suit that description better when it comes to West Africa. Posted by Son of the Delta| 28.04.2008 14:10

Son of the Delta  Villager

# 8 =Sapele Man;4295010654>Son of the Delta Some economists said that about China just less than ten years before it became a formidable economy. Then look at India with corruption and slums everywhere, yet it has not stopped them from becoming what they are today. Then again, it depends on what you mean by "I dont see Nigeria becoming a regional power not to talk of an economic super power". But you remind me of what Ian Smith (Zimbabwe, then Rhodesia) and Pete Bhotha (South Africa) said about black majority rule. They both said there would never be a black majority rule in their countries. Today what do we have in these countries? One advise I can offer you is never say never. @ Sapeleman Nigeria is not China. Simple and short. Nigeria`s political landscape is still being controlled by products and by-products of Nigeria`s semi-educated,cruel,selfish,tribal,short sighted military and I dont see anything changing very soon. The only thing that may result in a change is division that may be caused by a conflict between opposing tribal and economic interest within this group(Military). I have never been of the opinion that Nigeria`s predicament is as a result of corruption; yes corruption does play a role in the whole problem but tribalism and outright injustice play greater roles and these are some of the key reasons why it may be difficult for Nigeria to move an inch forward. When it comes to Africa as a continent I am optimistic but I cant say the same about Nigeria as a nation. Posted by Son of the Delta| 28.04.2008 14:49

Sapele Man  Villager

# 9 Nigeria is not China. Obviously, Nigeria is not China. No one will dispute that. But there are common factors that could stimulate Nigeria economic development just as they did for China, if properly harnessed. Nigeria`s political landscape is still being controlled by products and by-products of Nigeria`s semi-educated,cruel,selfish,tribal,short sighted military and I dont see anything changing very soon. You could say the same for China. It is one party state ruled by a group of die hard and corrupt communist party leaders. The only thing that may result in a change is division that may be caused by a conflict between opposing tribal and economic interest within this group(Military). I would have been surprised if you did not add this to your comment. Posted by Sapele Man| 29.04.2008 12:28

Son of the Delta  Villager

# 10 =Sapele Man;4295011657>Nigeria is not China. Obviously, Nigeria is not China. No one will dispute that. But there are common factors that could stimulate Nigeria economic development just as they did for China, if properly harnessed. Nigeria`s political landscape is still being controlled by products and by-products of Nigeria`s semi-educated,cruel,selfish,tribal,short sighted military and I dont see anything changing very soon. You could say the same for China. It is one party state ruled by a group of die hard and corrupt communist party leaders. The only thing that may result in a change is division that may be caused by a conflict between opposing tribal and economic interest within this group(Military). I would have been surprised if you did not add this to your comment. China is not in any way the same with Nigeria.Chinese leaders are better educated than their Nigerian counterparts.There is also this patriotic drive in whatever they do.Most of Nigeria`s rulers hate the state called Nigeria with an unimaginable passion. Posted by Son of the Delta| 02.05.2008 09:50

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