Business Credit Application Toyota Industries Commercial: Fill & Download for Free

Mr. Avinash P. GandhiMr. Avinash P. Gandhi received his Bachelor's Degree in Mechanical Engineering from Birla Institute of Technology, Mesra and he has completed Senior Management programmes at Indian Institute of Management and Administration Staff College of India.Mr. Gandhi served as a Special Advisor to Asia Automotive Acquisition Corp. since June 20, 2005. From 1998 to 2002, Shri. Gandhi had been the President of Hyundai Motors India and from September 1994 to June 1997, he served as the Chief Executive Officer of Bhartia Cutler Hammer (now a part of Eaton Corporation). From June 1997 to June 1998, Mr. Gandhi was Group Chief Executive of a Conglomerate of seven companies having tie-ups with leading global electrical products manufacturers.Mr. Avinash P. Gandhi has rich years of experience in engineering and various managerial positions. He held top leadership positions in prestigious organizations for nearly two decades in a professional career spanning forty years. From 1969 to 1994, he served in a number of positions with Tata Motors and Escorts Limited including that of Director on Board of Escorts Claas, a start up joint venture project with the largest Indian self propelled combine harvester company.Mr. Gandhi’s other positions of eminence include:The Chairman of the Board of Directors of Fag Bearings India Ltd.Independent & Non-Executive Director of Havells India Ltd.Director of Uniproducts (India) Ltd.Member of Advisory Board of NuVeda Learning Pvt. Ltd.His other Directorship’s include Independent Lumax Industries Ltd., Fairfield Atlas Ltd., Panalfa Automotive Pvt. Ltd., Continental Engines Ltd., Mahavir Aluminium Limited, Minda HUF Ltd., Indo Alusys Ltd., Avinar Consulting Pvt. Ltd., Avinar Service Pvt. Ltd. and Pan Alfa Auto Ektrie Pvt. Ltd.Mr. S. N. AgarwalMr. S.N. Agarwal, a graduate engineer from Birla Institute of Technology, Mesra and an alumnus of Harvard Business School (AMP- 1985) is the Chairman of the BHORUKA Group.He has been a Senior Executive Committee Member of Federation of Indian Chambers of Commerce & Industry, (FICCI) since 1985. He has been the Chairman of various National Committees of FICCI on Power, Non-conventional energy, Logistics etc. He is the President of Karnataka State Council of FICCI-New Delhi and he is also the Vice President of SAARC Chamber of Commerce & Industry representing India.Mr. S N Agarwal’s other positions include Member, Governing Board - Indian Institute of Management (Bangalore), Chairman of the Committee on Finance and Campus Development of Indian Institute of Management Bangalore (IIM-B), Member - World Presidents Organization. He was also the Past President of All India Organization of Employers, (AIOE).Dr. Ganesh NatarajanDr. Ganesh Natarajan is Deputy Chairman and Managing Director of Zensar Technologies Limited, a Global firm that transforms Technology and Processes for Fortune 500 companies. Dr. Natarajan has been one of the most successful professionals in the Indian Information Technology Industry, having earlier been part of two major success stories in IT Training and Consulting, NIIT and APTECH. During his ten-year stint as CEO of Aptech he grew the company’s revenues fifty times and listed it on the Indian and London Stock Exchanges.A Gold Medallist in Mechanical Engineering from Birla Institute of Technology, Mesra he has completed his PhD in Knowledge Management at IIT Bombay. He is the author of three McGraw Hill Books on Business Process Reengineering and Knowledge Management and has also authored a book titled “Winds of Change”. He is a regular columnist for India’s premier Business and IT magazines.Dr. Ganesh Natarajan was named “CEO of the Year” by the Asia Pacific HR Conference in 1999 and received the Wisitex Foundation’s CEO of the Decade – Knowledge Award from India’s Minister for Information Technology in 2000. In July 2005, he received the Asia HRD Congress Award for Contributions to the Organisation through HR. He was one of nineteen finalists at the Ernst & Young Entrepreneurs of the Year Award 2005 where he was recognized for his exemplary leadership skills and business acumen.Dr. Natarajan chairs the Outsourcing Forum of the Confederation of Indian Industries in Western India and is also a member of the Executive Council of NASSCOM, India’s premier IT and BPO Association. He has been elected Chairman of the NASSCOM Innovation Forum for 2005-07.Mr. Deven SharmaMr. Deven Sharma holds a bachelor's degree from the Birla Institute of Technology, Mesra, having graduated in Mechanical Engineering in the year 1977. He holds a Master's degree from the University of Wisconsin and a doctoral degree in Business Management from Ohio State University.Deven Sharma was named president of Standard & Poor's in August 2007. Standard & Poor's, a division of The McGraw-Hill Companies, is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.Prior to being named president, Mr. Deven Sharma served as Executive Vice President, Standard & Poor’s, where he was responsible for Investment Services and Global Sales. The businesses include Investment Data & Information, Research and Portfolio services. Prior to this, he spent five years as Executive Vice President, Global Strategy for The McGraw-Hill Companies, where he led the expansion into digital markets, geographies and new growth areas, as well as acquisitions. He also oversaw McGraw-Hill Ventures.Mr. Sharma joined The McGraw-Hill Companies in January 2002 from Booz Allen Hamilton, a global management consulting company, where he was a partner. During his 14 years with that firm, he provided guidance to client companies on business strategy and globalization, as well as on branding and sales management. Much of his experience includes work with global corporations in U.S., Latin America, Europe and parts of Asia. Prior to Booz Allen, he worked with manufacturing companies, Dresser Industries and Anderson Strathclyde.Mr. Sharma has authored several publications on competitive strategy, customer solutions, sales and marketing. He is a Board member of CRISIL, The US-China Business Council and Asia Society Business Council.Mr. Gurdeep Singh PallMr. Gurdeep Singh Pall is the corporate vice president for the Office Communications Group at Microsoft Corp. and part of the Microsoft Business Division's senior leadership team. He is responsible for vision, product strategy and business development, and R&D for Microsoft's Unified Communications offerings, including Microsoft Office Communications Server, Microsoft Office Communicator, Microsoft Office Live Meeting service and Microsoft Office Communications Online.Mr. Pall joined Microsoft in January 1990 as a software design engineer. He has worked on many breakthrough products in his tenure, starting with LAN Manager Remote Access Service. He was part of the Windows NT development team, working on the first version of Windows NT 3.1 in 1993 as a software design engineer, all the way through Windows XP in 2001 as general manager of Windows Networking. During his work on Windows, he led design and implementation of core networking technologies such as PPP, TCP/IP, UPnP, VPNs, routing and Wi-Fi, and parts of the operating system. He co-authored the first VPN protocol in the industry – Point-to-Point Tunnelling Protocol (PPTP) – which received the prestigious Innovation of the Year award from PC Magazine in 1996. He also authored several documents and standards in the networking area in the Internet Engineering Task Force (IETF) standards body in the mid-1990s. Mr. Pall was appointed general manager of Windows Real-Time Communications efforts in January 2002 and helped develop a broad RTC strategy that led to the formation of the Real Time Collaboration division and acquisition of PlaceWare Inc. (now called Microsoft Office Live Meeting). Since then, Pall has led acquisitions of Page on media-streams.com AG and Parlano and key industry partnerships. Microsoft's Unified Communications efforts have received many technical and design industry awards. He was named one of the 15 Innovators & Influencers Who Will Make A Difference in 2008 by Information Week. Mr. Gurdeep Singh Pall recently co-authored "Institutional Memory Goes Digital," which was published by Harvard Business Review as part of "Breakthrough Ideas for 2009" and was presented at the World Economic Forum 2009 in Davos, Switzerland.Mr. Pall has more than 20 patents (in process or approved) in networking, VoIP and collaboration areas. He holds a master's degree in computer science from the University of Oregon and a graduate degree in computer engineering from Birla Institute of Technology, Mesra, Ranchi in India.Mr. Sanjay NayakMr. Sanjay Nayak is the Co-founder & Chief Executive Officer of Tejas Networks, a leading optical networking product company from India. Mr. Nayak is a technologist with over 18 years of industry experience in India as well as the USA. Prior to founding Tejas, he held senior management position in globally leading Electronic Design Automation companies such as Synopsys (where he was the Managing Director of Synopsys-India) and earlier at Cadence Design Systems. Mr. Nayak holds an M.S. in Electrical and Computer Engineering from North Carolina State University, Raleigh and B.E in Electronics and Communication Engineering from Birla Institute of Technology, Mesra.Mr. Sukant SrivastavaSukant Srivastava is Managing Director and Country Manager for Convergys Corporation’s Customer Care business in India. He is responsible for overseeing the operations of Convergys’ eight contact centres and 11,000+ Customer Care employees in India, directing relationships with National Government officials and representing Convergys in key industry forums and associations. Additionally, he focuses on driving Convergys’ Relationship Management brand position in India, enabling talent acquisition and continued leadership in the rapidly growing business process outsourcing market. Mr. Srivastava reports to Clint Streit, president of Customer Care, and is located in Gurgaon, India. Prior to joining Convergys, Mr. Srivastava served in a variety of global leadership roles with Keane, Inc. His most recent assignment was as managing director for Keane’s Indian operations. In this position he served as a transformation agent for enterprise-wide change initiatives, including a shift to a globally integrated business model. Previously, he was vice president of Global Services Integration for Keane.Mr. Srivastava holds a Bachelor’s degree in Electrical Engineering from the Birla Institute of Technology in Ranchi, India and a Master’s degree in Business Administration from the University of North Florida.Dr. Shree K. NayarDr. Shree K. Nayar did BE in electrical Engineering from Birla Institute of Technology, Ranchi, India in the year 1984. He received his PhD degree in Electrical and Computer Engineering from the Robotics Institute at Carnegie Mellon University in 1990. He is currently the T. C. Chang Professor of Computer Science at Columbia University. He co-directs the Columbia Vision and Graphics Center. He heads the Columbia Computer Vision Laboratory (CAVE), which is dedicated to the development of advanced computer vision systems. His research is focused on three areas; the creation of novel cameras, the design of physics based models for vision, and the development of algorithms for scene understanding. His work is motivated by applications in the fields of digital imaging, computer graphics, and robotics.Dr. Shree K. Nayar has received best paper awards at ICCV 1990, ICPR 1994, CVPR 1994, ICCV 1995, CVPR 2000 and CVPR 2004. He is the recipient of the David Marr Prize (1990 and 1995), the David and Lucile Packard Fellowship (1992), the National Young Investigator Award (1993), the NTT Distinguished Scientific Achievement Award (1994), the Keck Foundation Award for Excellence in Teaching (1995) and the Columbia Great Teacher Award (2006). In February 2008, he was elected to the National Academy of Engineering.Dr. Arup Roy ChoudhuryDr. Arup Roy Choudhury is a firm believer in achieving team-excellence through transformational shift to proactive, positive and personalized approach. Having experience in private and public sector organizations, Dr. Arup Roy Choudhury has an illustrious career of about 35 years during which he has been holding the position of CEO for over thirteen years. An engineering graduate from BIT-Mesra, he completed his post graduation and doctorate from IIT-Delhi and fol lows the motto “Sankalpa Shuddha Hi Siddha” i.e. if your intentions are pure, you are bound to succeed.Becoming the youngest CEO of a CPSE at the age of 44 years, he scripted a stunning turnaround story as CMD when he transformed NBCC, which was a sick company with negative net-worth and salary backlog in 2001, into a blue-chip enterprise having 'Schedule A’ and ‘Mini Ratna’ status bestowed upon it by the Government of India. The transformational turnaround of the Company brought about by him enabled NBCC’s turnover grow about 10 times and net-worth over 500 times during his tenure of nine-and-a-half years at the helm (Annexure-I). He pulled NBCC out of the abyss and catapulted it into the distinguished league of ‘Top Ten CPSEs’. Under him, NBCC broadened its business horizons and paid its maiden dividend to the Govt. of India for the year 2006-07, after 45 years of its incorporation.Dr. Choudhury now heads NTPC Limited, the 10th largest power producer in the world and ranked as #1 Indepedent Power Producer by Platts (part of the prestigious McGraw Hill Group). NTPC is acknowledged as the best company in the world for capacity utilization. NTPC is also one of the seven largest Central Public Sector Undertakings of India, designated as a ‘Maharatna’.Since taking over as CMD-NTPC in September, 2010, Dr. Choudhary has been positioning the enterprise on course to become the largest and best power producer in the world.In a period of three and a half years of Dr. Choudhury’s leadership, NTPC has already added about 10,800 MW, which is over one fourth of its total installed capacity of over 43,019 MW built in over 38 years. NTPC’s turnover is around Rupees 68,800 crore (about USD 12.5 Billion). NTPC's financial performance in 2012-13 has been exceptionally strong with a Profit After Tax (PAT) of about Rs. 12,600 crore (about USD 2.3 billion), an increase of about 37% over the previous year's PAT.Dr. Choudhury steered the process of ‘Offer for Sale’ for disinvestment of 9.5% stakes of the Government of India in NTPC, garnering over USD 2 billion (About Rs. 11,500 Cr). This was oversubscribed by 1.7 times with 45% coming from foreign investors. NTPC's issue for Tax Free Bond of Rs. 1,000 crore in December, 2013 received overwhelming response from the investors with oversubscription of 3.37 times.Dr. Choudhury, as Chairman of Standing Conference of Public Enterprises (SCOPE) - the apex forum of over 200 Central Public Sector Enterprises (CPSEs) in India - for two consecutive terms of two years each (From April 2009 to March 2013) effectively led policy advocacy for greater empowerment of these enterprises. He led a team of select CEOs to the Prime Minister and still remains the flag-bearer of Central PSUs.Dr. Choudhury figures at # 40 among 'India Inc's 100 Most Powerful CEOs 2013' in the list released by The Economic Times.Dr. Choudhury has received several national and international awards, including the Award for ‘The Best Organizational Turnaround’ from Hon. President of India in 2006, ‘Top Ten PSU and Turnaround Award’ from Hon. Prime Minister of India in 2007 and ‘Best Individual Leader of a Public Sector Enterprise’ from Hon. Prime Minister of India in 2010.Dr. Choudhury has captured his rich experiences and insights into a very well received book titled – 'Management by Idiots'.Mr. Anjan LahiriMr. Anjan Lahiri serves as President and CEO of MindTree’s IT Services business and is stationed in Bangalore. In this role he is responsible for all aspects of MindTree’s IT Services business around the world.Prior to relocating to Bangalore in 2008, Anjan spent five years in London setting up and then growing MindTree’s European Operations. In 1999 when he joined MindTree as a part of the founding team, he helped set up MindTree’s New Jersey office and then led MindTree’s US West Coast Operations from San Jose, California from 2000 to 2003 before relocating to London.Prior to MindTree, Anjan was a Director with Cambridge Technology Partners. He was part of the initial group, which started Cambridge’s internet services consulting practice. Anjan started his professional career with Wipro Infotech in 1987. By 1991 when he left to pursue higher studies in the US, he was a Territory Manager in Wipro’s Kolkata office.Anjan Lahiri received a BE in electronics engineering from the Birla Institute of Technology, Mesra, Ranchi.Mr. Pawan Bhageria1983 Mechanical Engineering-Gold Medalist and MBA from XLRI, Jamshedpur His 26 years of experience in Automotive / IT Industry includes Manufacturing, New Plant Commissioning Projects & all aspects of Information Technology with special focus on automotive & manufacturing industry. He has held leadership positions in large corporations of repute in India and abroad in Global cross-cultural business and technical environment.Key areas of work :Business aligned IT strategic planning and its execution,Process re-engineering & Efficiency Modeling .ERP (SAP/Oracle/Others) Global Implementation.IT Operations Managemen.IT Audits & ComplianceLarge Contract Negotiations & Vendor ManagementOrganization Change ManagementHe was Head of IT for Tata Motors & Strategic Account Manager at Tata Technologies before joining General Motors in 2006. Currently part of GM International Operations as IT Director.Mr. Himanshu KapaniaMr. Himanshu Kapania has been the Managing Director of Idea Cellular Limited since April 1, 2011. Mr. Kapania served as Deputy Managing Director at Idea Cellular Limited until April 1, 2011. He served as the Chief Operating Officer - Corporate and Director of Operations for Idea Cellular Limited.Mr. Kapania joined Idea in September 2006 with over 21 years of industry experience. He worked with Reliance Infocomm as their Chief Executive Officer for Northern Operations covering Punjab, Haryana and HP as for three years, with IDEA Cellular Ltd., as Chief Operating Officer for over six years, with Network Ltd., as Dy. General Manager - Marketing for three and a half years, with Shriram Honda as Manager Marketing for over three years and with DCM Toyota as Sr. Executive for five years. Mr. Kapania serves as a Director of Idea Cellular Limited. He is a BE in Electrical & Electronics from Birla Institute of Technology, Ranchi and a postgraduate from the Indian Institute of Management, BangaloreM. M. Singh (Batch of 1974)M M Singh is the Chief Operating Officer, Maruti Suzuki India LimitedHe leads Production vertical at Maruti Suzuki India Limited. He is responsible for rolling out 1.2 million cars from Maruti stable every year with assets under control (AUC) of USD 5 billion (Rs 30,000 crores). All manufacturing facilities at Gurgaon, Manesar , Gujarat reports to him. He leads a team of 20,000 people at 10 plants consisting of more than 150 departments.His leadership led to production of high Quality cars which were exported to EU, Latin America and Middle East, and Topping CSI and APEAL ratings in India. Every year Maruti exports about 120,000 cars made in India. During his leadership an Indian manufactured car became World’s largest selling auto brand, Alto, beating models like Polo and Accord.He is Chairman of SIAM ( Society of Automobile Engineers) Logistics, Co-chairman of FICCI Manufacturing National Committee and Chairman of CII North manufacturing committee.He has received inspired manufacturing fraternity with his patented thought process called “Production Managament System” which has set revolution in manufacturing sphere by combining Japanese practices with Indian wisdom and capturing the passion of western management.M M Singh is from the BIT BE (ECE) Batch of 1974Sudhir Mohan TrehanSudhir Mohan Trehan is Executive Chairman of Avantha Power & Infrastructure Limited and Vice Chairman of Crompton Greaves Limited.A gold medallist in mechanical engineering, he graduated from Birla Institute of Technology, Ranchi. He received his Master’s degree in operational research from State University of New York at Stony-Brook, U.S.A., and successfully completed the Advanced Management Program (AMP) from Harvard Business School, Boston, U.S.A.He joined Crompton Greaves Limited in 1972 and, over the years, has held several positions of responsibility. He was appointed Managing Director of the company in 2000 and, on his retirement in June 2011, was named Vice Chairman. He is a member of the Avantha Management Board, which formulates strategy at the Group level. He is also Chairman of the Board of Governors at Thapar University.Sudhir is a highly respected and widely recognised business leader. He was named “Outstanding Chief Executive” for 2000-2001 by the Indian Institution of Industrial Engineering. In recognition of his contribution to the Indian industry in general and the management movement in particular, the Bombay Management Association (BMA) unanimously conferred upon him the “Management Man of the Year Award” for 2005-2006. He was named Business Standard CEO of the Year for 2008-09.Sudhir has worked in various capacities with industry bodies, including BMA, Confederation of Indian Industry (CII), Indian Electrical and Electronics Manufacturers Association (IEEMA) and Nashik Industries & Manufacturers’ Association (NIMA). He was Chairman of CII’s Western Region.His interests include golf, cricket and reading.Mr. R. K. Gupta (Batch of 1965)Founder & Chairman, Laxmi Publications Group & President Emeritus BITOSA DelhiMr. Gupta is founder of Laxmi Publications Group. He has over 35 years of publishing experience. A wellknown figure in the Indian Publishing Industry, he was Ex-President, Federation of Educational Publishers in India. Apart from a distinguished personality in publishing industry, Mr. Gupta has actively taken part in promoting sports in India. He has head many international delegations. He was Secretary, Winter Games Federation of India, President, Ice Skating Association of India, Secretary, Winter Games Federation of India, Member, and Indian Olympic Association. He did Mechanical engineering from BIT Mesra.Mr. Pramod Taparia (Batch of 1966 )Founder & Chairman, Wintech TapariaMr.Pramod Taparia (popular as PT) is an entrepreneur, facilitating the food processing industry, by doing required pioneering work in India. At an age of 35 years, in 1985, PT got an award from the Vice President Shri Ramaswamy Venkataraman of India for being a "Self made Industrialist", at Delhi. Collaborating with the Swedish, in 1986, he founded a company offering international Technology & Equipments at an affordable price in India. This company, together his Scandinavian partners, pioneered Potatoes, Vegetables and Seafood processing & packaging in India. In addition to a formal degree in engineering, he went in the year 1993, for an Advance Management Program of few weeks, to a well known institute in Stockholm, Sweden.Mr. Niraj Sharan (Batch of 1976)Founder, Chairman & CEO Aura Inc.Mr. Niraj Sharan is the Founder-Chairman and CEO of Aura Inc., since 1989, a leading Global enterprise catering to the global ENERGY sector through Engineering, Manufacturing & System Integration. He is also Founder & Co-Chairman, Aurys s.r.l, Italy, a leading Technology Consulting and full service Engineering Company in Oil & Gas sector. He sits on advisory Board of several For Profit and Non-Profit companies out of USA, India & EUin Technology, Health Care and Clean Energy verticals. He is “Member, Technical Expert Committee - Government of India,under Department of Science & Technology since June 2009.”, “Special Invitee” to the US Endowment Board on US – India Joint Commission on Science and Technology formed under agreement of President Obama and Prime Minister Manmohan Singh.Mr. Sunil Jain (Batch of 1977)Chief Operating Officer & Head-Wind, Green InfraSunil is the COO of Green Infra. He has over 27 years of experience in the engineering industry, particularly in the auto and infrastructure sectors. He has extensive experience in business development, both in the domestic and international markets, and in handling commercial negotiations with customers and vendors alike. Mr. Sunil is also the President, Northern Region Council and Member National Council of Indian Wind Power Association. Sunil is a Mechanical Engineer from BIT Mesra and holds an MBA from Faculty of Management Studies, Delhi University.Mr. Rajiv Nag (Batch of 1971)Founder and Chairman, CyberQ Consulting & Senior Advisor at KPMGSenior Advisor of KPMG ,The founder and Chairman of CyberQ Consulting Pvt. Ltd., Dr. Rajiv Nag is amongst the world's top-notch consultants in the areas of Process consulting who has helped organizations put their processes in place. With over 25 years of experience around the world in the areas of Software Project Management, Quality Assurance and System Testing, Development of Software Integrated Management Systems, Functional and System Integration, Application Systems Development, System design, Strategic management consultancy, Development of Quality Management Methodology and Information Security initiatives.Shri T. Venkatesh, I.A.S. (Batch of 1979)Chief Vigilance Officer (CVO) & Board Member, NTPCShri Venkatesh is an Indian Administrative Service officer of 1988 batch of U.P. Cadre. Prior to his assignment as Jt. Secy. (DOPT) in the Ministry of Personnel & Public Grievances & Pension, he held various administrative posts including DM (Bareilly), Commissioner (Gorakhpur) and Secretary (PWD) in the state of Uttar Pradesh. He is looking after the work of CVO and also on Board of Directors of NTPC since October, 2009. He has done Mechanical engineering from BIT Mesra and is post graduate in same.Mr. Ashutosh Pande (Batch of 1983)Managing Director (India) and Global Vice President & GM ISBU at CSR Technology (India)Mr. Ashutosh specializes in market creation for new technology and products. Strategist, visionary and sharp thinker, he is currently Member Governing Council at Association of Geospatial Industries and also heads an incubation unit within the company where they are exploring avenues that will allow CSR to diversify beyond chipsets into services. He holds MS in Electrical Engineering from University of Alberta, USA and B.E. in Electronics & communication from BIT Mesra.Mr. Nirankar SaxenaDirector, Federation of Indian Chambers of Commerce and Industry (FICCI)Mr. Saxena heads the Business Information Services Network Division (BISNET) at FICCI and manages multiple project portfolios. His responsibilities include networking with leading senior Government officials,industrialists‟ and the diplomatic corps in India as well as the visiting foreign dignitaries. Prior to joining FICCI, he was Chief Executive Officer of Osprey Software Technology (P) Ltd and Director of Team Computers (P) Ltd. He holds a Page on b.e.in ComputerSciences from BIT Mesra.Mr. Ajay Pathak (Batch of 1977)Joint Secretary, Ministry of Road & Surface Transport, GOIFormer Joint Secretary at Ministry of Finance, he is now Jt. Secretary at Ministry of Road and Surface Transport. He has done his Civil Engineering from BIT Mesra.Mr. Jagdish Mitra (Batch of 1988)Chief Executive Officer of CanvasMAt CanvasM, he leads a team of over 600 associates that are focused on providing solutions that enable customers and enterprises take advantage of the mobile ecosystem. With over 20 years of experience in the areas of business development and marketing in the global information services market. Under his leadership, CanvasM has been awarded the “Best Start-Up Company” at the Mobile Content Awards 2008 held in London.Mr. Atul Kansal (Batch of 1984)Founder and Managing Director, INDUS EnviroMr. Kansal is Founder and Managing Director of INDUS Enviro and is responsible for its activities in India and the neighboring countries. He has more than 18 years of diversified consulting experience in Environmental Health & Safety (EH&S) Management particularly in EH&S Compliance and Due-Diligence Auditing. Over last 18 years, he has worked on more than 350 environmental projects in a variety of sectors. He has done his Civil engineering from BIT Mesra and Masters from IIT Roorkee.Mr. Annup Damani (Batch of 1979)Managing Director at Alloy CastMr. Damani is Managing Director at Alloy Cast (P) Ltd. Today, under his leadership, the company now boast of a capacity of over 3, 50,000 to 4, 00,000 castings per month. It has factories to cater diversified range of products and services encompassing industries like automotive, hardware, plumbing and heating controls.Mr. Abhishek Sinha (Batch of 1995)Co-founder & CEO of Eko India Financial Services Private LimitedEko democratises access to formal financial services using mobile phones as a financial identity for people at the bottom of the pyramid. Eko stands out for simplicity of user experience while still ensuring secure transactions.Eko has partnered with 1,500 retail stores bringing banking services at the next-door grocer for close to 1 million customers. Eko processes over $ 1 million every day and has processed close to half a billion dollars in transactions so far! Eko listed amongst top 10 most innovative companies in India by Fast Company | Business + Innovation!SOURCE:- www.bitmesra.ac.in

1 Introduction In my view this question is wrongly framed. When major countries de-industrialise, they do not “fall out of the developed world” but they lose the leadership capability, the mimetic magic of attracting followers to their economic and social policies, and their manufacturing strength and political, social and economic place in the world order.No countries during the last 50 years have “fallen out of the developed world.” Reality is not like that. But there are two Chinese Empires and two Western Empires (the British Empire and the American hegemony) as listed in Section 13 of this answer where the people have lost their previous prosperity plus countless Washington Consensus camp-followers where the people have failed to become prosperous. These issues deserve a detailed response and an appropriate timescale.In order adequately to identify the previously highly industrialised countries which have lost out during recent years we need a longer time perspective than half a century. About 280 years - from 1735 to 2015, or the last four 70-year periods of Kondratiev hegemonic ascendancy - is perhaps the best time frame within which to identify the biggest modern cultural losers of all time, the rise and fall of the British Empire (1735–1945) and the more recent fall of the American hegemony (1945–2015).These kind of declines have happened before, most notably to the Chinese Dynasties of the Northern Song Empire (960–1279) and to the Yongle Emperor (1402–1424) within the Dynastic era of the Great Ming Empire. The circumstances surrounding the declines of these Empires throw an interesting and relevant light on modern events.1.1 Caveat The sheer historical scale of this Question is immense and I know I cannot possibly cover all aspects of these mainly manufacturing declines, but there are many books and articles which refer to the process of relative economic decline and the interested reader is invited to dig into the subject as deeply as their time and interest permits. I will refer to a few of these books but there are thousands, often smug and usually wrong because Western economic thought does not generally include the role of finance in stimulating economic development.I once found that amusing, but it is now deadly. The Shimomuran remedy to many of the ills of the world is available and urgently needs to be implemented.This reply has potentially such a large scale that I have “Submitted” it despite its inevitable incompleteness. It is easier to illustrate the general case by identifying individual de-industrialisations than to list all the major withdrawals from previous manufacturing superiority.2 Background In all local, historical and recent economic development, the role of finance in stimulating economic development is a key factor not only in explaining the first industrial development in the world of the Northern Song Empire but also in explaining all industrial economic miracles since, including the latest ongoing Chinese Economic Miracle (1975-now).The generally accepted major and academically dominant strand of Western economic thinking - Washington Consensus Macroeconomics - in its various forms of Monetarism, privatisation, neoclassical or neoliberal economics, financialisation, and Austerity, does not include banks in its generally accepted economic models. Consequently the understanding of nearly all Western economists [including their Nobel Laureates!] is quite inadequate to explain, describe or illustrate rapid economic development.I have written seven books and over 350 articles since 6 November 1971 on this topic and continue to hope that one day the West will brighten up. But there is no sign of that so far.3 The Decline and Fall of Empires Is Not An Immediate Process When a previous hegemonic leader declines in their relative economic importance, they do that by the diminishing role or shutdown of their major growth-producing services and industries. Eventually that occurs on an immense and widespread scale. The removal of previous bank support to SMEs and industry is a key factor in producing economic decline. The lack of political support for key industries and for manufacturing industry (which is generally due to the total absence of an industrial policy) is again a major factor in generating long term industrial decline. These issues can be amply illustrated by reference to historical trends and to government economic policies, in the usual tradition of the German Historical School of observation of linking historical political policies to economic consequences.3.1 The British Shutdown of about 800 SME-Supporting Banks, 1840–1940 The shutdown of about a third (or about 260) and takeover of about 540 local SME-supporting banks banks by the London Clearing Banks removed the major factor which had made Britain the workshop of the world, but it took about a century to happen (from about 1840 to about 1940) and the last such SME-supporting Scottish bank, the Airdrie Savings Bank (1835–2017) defied the local bank closure trend for another 77 years but closed its doors on 28 April 2017. See Airdrie Savings Bank - Wikipedia and see the 3-volume book by Margaret Dawes and C.N. Ward-Perkins The Provincial Banks of England and Wales, Private Provincial Banks and Bankers, 1688–1953, ©The Chartered Institute of Bankers, and ©Margaret Dawes, William Clowes, Beccles, Suffolk, 2000 where this issue is fully laid out. And also see Charles W Munn’s “The Scottish Provincial Banking Companies”, John Donald Publishers Ltd, Edinburgh, 1981)3.2 US Steel Production 1900–2016The bankruptcy of Bethlehem Steel in 2001 in the USA, for example, and the cessation of steel production and shipbuilding by that company did not immediately produce US economic decline, but contributed to it, requiring some steel and sea vessel imports instead of domestic production. The graph of American production of pig iron and steel looks like this:Source: Graph of US iron and steel production, 1900-2014, data from USGS website: http://minerals.usgs.gov/minerals/pubs/commodity/iron_&_steel/Between 1932 and 1944 (the years encompassing FDR’s economic miracle 1938–44) US steel production climbed from about 16 tons to over 80 tons, an amount similar to the 78 tons produced in the US in 2016. So US Steel production in 2016 was less than it was in 1944 and in the 1950s. SeeFDR’s American Economic Miracle 1938-44, or the First Economic Bomb - The USA from 1938 to 1944 (Part 1)The stagnancy of production of US steel and pig iron after the 1980 new policy of Reaganomics, when compared to the rising trends of steel and pig iron production from 1900 to 1978, is particularly impressive in the above graph.The Republican party knew very well that American industry was rapidly de-industrialising. The difficulties in the economic driver of the US economy - in the motor car industry - and the almost complete loss of US car industry market share of light vehicles (down to 3% in 2017!) along with the US Government restructuring of GM and Chrysler illustrated the problems. See The Decline Of The American Auto Industry In 4 Charts3.3 UK Production of Steel 2016With regard to the United Kingdom, one sentence from a recent report puts the issue into perspective“In 2016, the UK produced 8 million tonnes of steel. China produced 808 million tonnes in the same year.”And a House of Commons Briefing Paper Number 07317, authored by Chris Rhodes, dated 2 January 2018 contains in Section 8 the following illustration:As that report remarks “In 1995, China accounted for 13% of the world’s steel production. This had risen to 50% in 2016.”A flourishing steel industry is one major requirement for a successful manufacturing economy. That key precondition no longer exists either in the US or in the UK.4.1 British and American De-industrialisation Neither Britain nor the United States have “fallen out of the developed world” but they have both de-industrialised their economies at a startling rate, and their economic positions in the world are now much less than than they would have been, if they had continued to champion their inventors, innovators and manufacturing industries. Only an industrial economy can provide the jobs and continually upskill the workers to provide the widespread prosperity upon which continual rising living standards depend. [The dot com economy clearly cannot.] It is undeniable that the previously leading economies of the UK and USA now have large numbers of recently impoverished workers and their families mainly located in or around the rustbelt cities where manufacturing industry has declined enormously and has sometimes been completely shut down.4.2 The Kondratiev Hegemonic CycleNikolai Kondratiev (1982–1938) was the Russian economist who“was a proponent of the New Economic Policy (NEP), which promoted small private, free market enterprises in the Soviet Union. He is best known for proposing the theory that Western capitalist economies have long term (50 to 60 years) cycles of boom followed by depression. These business cycles are now called "Kondratiev waves".[1] “There is one interpretation of the Kondratieff wave that I am most interested in propounding here, the hegemonic cycle of development, for which there is some limited evidence.4.3 The Central Role Of Economic Understanding In Creating Recent Economic MiraclesThe role of governments and the economic understanding they possess and practice (and otherwise) is a key factor in producing both high-growth economic miracles and economic decline. If the United Kingdom governments after 1945 had understood no-cost investment credit creation then Britain could have grown the nations of the British Empire as Japan did in the colony of the South Manchurian Railway Company. If the United States governments after 1945 had understood the procedures practised in FDR’s 1938–44 economic miracle, then the postwar world led by America could have introduced no-cost FED-originated investment credit creation economics throughout the US-led world. High growth could have been the norm. Widespread prosperity would have been the result. Poverty would not have been completely abolished in the less developed countries but it would have been greatly reduced.Instead after 1980 the UK introduced Thatcherism, with its cumulative shutdown of most manufacturing industry, its attacks on the living standards of the working class, its attempted destruction of the post-war social contract allegedly supported by the theories of neoclassical economics, privatisation, Austerity for the workers and tax cuts for the rich, and the shrinkage of UK invention and innovation as the London-based Clearing Banks distanced themselves from British industry and SME financial support. I tried and failed to change that by lobbying parliament through the Grylls group but the British Clearing Banks had bought the votes of many MPs who often did not understand economics or the UK position but voted in Committee for the continuity of British economic decline. Which accelerated.It was interesting in 1981 to meet with Mrs Thatcher in 10 Downing Street but very disappointing to discover that neither she nor her cabinet understood the crucial importance of providing bank funding at local level for the inventive and innovative British SMEs that are the source of future employment and new industries. Chancellor Howe turned down the Grylls Group proposals (of which I was the major author) in his budget speech of March 1982 with the comment that other methods were available to achieve the same objectives. None emerged and I do not believe that any such policies exist.And after 1980, the USA practised the economics of President Reagan (or Reaganomics). and consequently the previous policy legacy of Franklin Delano Roosevelt - the legal status of the unions, the right to form trade associations and the right to strike, as set out in Roosevelt’s National Labor Relations Law - was increasingly abated. The Reagan administration not only legislated against the striking Air Traffic Controllers but let it be known that the Roosevelt National Relations Law would not be enforced by Government action, and employers were free to refuse to recognise or deal with the unions or to refuse to conduct collective bargaining with these to negotiate pay deals. A new powerless labour market was created by the Reagan Government in the USA to underpay or impoverish workers in the hope of creating higher company profits.The fundamental change brought about by Thatcherism and Reaganomics was the political preference for running the economy in the interests of the rich, who received a greater share of the annual increases in national income, and the politically reduced allocation of national income to the workers.Unfortunately when any economy is taken over and run by its monied elite, lower economic growth invariably results. This is one of the greatest lessons of economic history which neither the US nor the UK acknowledge at any level - not politically, not in the media, not in the academics in their universities, not by their businessmen and businesswomen, not in their banks or by their bankers, not in their professional associations or in the popular culture of their people. Neither Reagan nor Thatcher appeared to realise that the commanding presence of their economies on the world stage had been the result of the involvement and activity of their workers and that a policy of preference for the rich and poverty for the workers was a recipe for manufacturing decline.The decline of the British Empire and the US Hegemony was due to the triumph of a defective economic understanding which has many labels but the latest is called neo-liberalism.This issue may need a more thorough explanatory investigation.5 The Other Great Losers of the last Millennium were The Chinese Empires of the Northern Song And Great Ming, but the culture of China has Recently Produced The Post-1975 Economic Resurgence of Modern China (1975-present day)5.1 The Northern Song Empire (960-1127) I have written so much about this elsewhere that I see no need to repeat much of it here. SeeGeorge Tait Edwards's answer to What are major Chinese innovations? andGeorge Tait Edwards's answer to How did Wang Anshi contribute to the economic world?5.2 The Great Ming Empire (1368–1644) The era of the Ming Dynasty succeeded the Yuan/Mongol rule and was particularly notable for the activities of the Yongle Emperor (1402–1424) who improved the Chinese economy to such an extent that the construction of the seven Great Treasure Fleets seemed to place no detectable strain on the Chinese treasury. See Ming treasure voyages - Wikipedia5.3 Modern China (1975-present day) The high economic growth of China is a consequence of the large share of the annual economic growth allocated to the people of China. That high economic growth is also a result of the continual creation of investment credit of about 25% of GDP a year by the PBoC and the direction of that credit into capital investment in the Chinese roads, rail and city building infrastructure and into equipment investment in manufacturing companies.5.4 The Mandate of Heaven The central concept of the Mandate of Heaven is that the ruler of China should rule the country in the interests of its people. SeeMandate of Heaven - Wikipediaand for my take on the subject seeGeorge Tait Edwards's answer to What are some examples of the Mandate of Heaven?That Mandate does not simply apply to Chinese leaders.5.5 The Basic Equation of Economic Development After Keynes, Western economists knew that the fundamental equation of National Income (NY) was equal to Consumption (C) plus Investment (I) plus Government spending (G) (ignoring for the moment that national income is increased by exports and diminished by imports). SoNY=C+I+GDomar and Harrod dynamised this equation by placing deltas before each item so that growth in National Income (dNY) was equal to growth in Consumption (dC) plus growth in Investment (dI) plus growth in Government spending (dG).But if an Austerity-increasing policy of low growth for the workers sets dC equal to nearly nil, and if the lack of an industrial policy reduces dI, and if a policy of small government reduces dG to nearly nil, then that’s an economic recipe for very low growth. Which is what has happened to the USA and the UK.6 The United Kingdom Hegemonic Periods and Thatcherism6.1 United Kingdom Hegemony 1 (1735–1815) “The Age of Steam”The Scottish-originated English-adopted industrial revolution was a product of the local banking systems which had fostered invention and innovation based upon intellectual insights into how things really worked. James Watt (1736–1819) took Richard Trevithick’s (1771–1833) steam engine (see Richard Trevithick - Wikipedia) and he converted it into a continually operating multipurpose machine, with over six times the efficiency of the original invention. SeeWatt steam engine - WikipediaThe Carron Iron Works (1759–1982) which became insolvent after 223 years. assisted that invention [that company was renamed the Carron Phoenix in 1982 see Carron Company - Wikipedia] because“The company also cast parts for James Watt's steam engine in 1765.”The Carron Iron Works also produced the Carronade, a lightweight cannon which helped establish, through the Royal Navy, British naval superiority for the decades from the 1770s to the 1850s. See Carronade - Wikipedia and it should be noted that this cannon was a direct development of the gunpowder artillery of the Song dynasty. See Gunpowder artillery in the Song dynasty - WikipediaJames Watt entered into a partnership with Matthew Boulton and produced over a hundred steam engines which drove the latter part of the British industrial revolution’s first seventy-year hegemonic period (1735–1805). The early years of that revolution were driven by the Tobacco Lord development through promissory notes of the three states of Maryland, Virginia, and North Carolina and the founding of local Scottish Banks led by Murdoch in 1730 in and around Glasgow and by the Tobacco Lord funding of other Glasgow-centred banks from 1749 and their partial funding of 88 Scottish companies, including capital for the Carron Iron Works.6.2 United Kingdom Hegemony 2 (1815–1885): “The Railway Age”The second period of British hegemonic dominance was the Railway Age from 1805 to 1875. That period was a direct development of the application of the steam engine to transport and the construction of railways.6.3 United Kingdom Hegemony 3 (1885–1945) “The Electricity Age”The third British hegemonic period was due to electrical engineering developments [based on the “second great unification of physics” based upon the insights of the Scottish James Clerk Maxwell (1831–1879)]. Maxwell’s electromagnetic understandings is“central to the performance of cellular mobile phones, GPS and Radar.”See James Clerk Maxwell Foundation - Wikipedia6.4 British Hegemonic Periods more Broadly DefinedIn my view the three British hegemonic periods are perhaps best described a little more extensively asGreat Britain 1: 1735–1805 The Tobacco, Cotton and Steam AgeGreat Britain 2: 1805–1885 The Railway and Steel AgeGreat Britain 3: 1885–1945 The Electrical Engineering and Automobiles AgeThese headings are only at best the most prominent features of each era and of course much else was also happening within these periods.7. In both Britain and America, war has been the economic education of the Conservative classes. Only after war when the upper classes of the UK and the USA could clearly see that the working classes had given their blood to preserve the nation have the Conservatives in the UK and the Republicans in the USA acted to improve the lot of the working classes.7.1 The UK Keynesian Period 1945–1979In this post war period, British Governments acted in the interests of improving the life circumstances and prosperity of the British people.The passage of Rab Butler’s 1944 Education Act and the Beverage Report and the Labour Government creation of the five pillars (or giants) of the Welfare State - which were the removal of want, better secondary education to remove ignorance, a new housing programme of slum clearance and new housing to remove squalor, a National Health Service free at the point of use to improve health, and a Keynesian full employment policy to remove poverty. See The Welfare State : Revision, Page 5During this period, the Keynesian policy of full employment was a central belief of successive British Governments, and that policy resulted in a widespread prosperity, perhaops best summed up in Prime Minister Harold Macmillan’s 1957 statement “You’ve never had it so good.” SeeBBC ON THIS DAY | 20 | 1957: Britons 'have never had it so good'7.2 UK 1980–2018 From Economic Ascendancy to Thatcherism Despite three Kondratiev seventy year periods of economic dominance, the United Kingdom produced the leadership of Mrs Thatcher in 1979. Her political programme was one of profound division, to rule the United Kingdom only for the benefit of the rich.There was a 1952 Little Richard song which aptly summarised the results of Thatcher’s leadership. The song was called “She got what she wanted, but she lost what she had.” The slightly explicit lyrics areThe song was revised in 1962 making it less explicit. See Little Richard - He Got What He Wanted (But He Lost What He Had) / Why Don't You Change Your WaysMrs Thatcher succeeded in foisting a system of rule for the rich on the politics of the United Kingdom. When she did that, the three seventy-year periods of hegemonic dominance of the UK were finally over. The only way a country can become a world power is by running the country in the interests of all its people, which the UK once did during the 19th century, which FDR did from 1938–44, and which China is now doing.8 The United States Hegemony (1945–2015)8.1 The Foundation of US Economic Dominance in FDR’s Economic Miracle (1938–44) Roosevelt knew that in order to win the Second World War he needed to get ALL of the working people of America to help to achieve the war production aims. He did that with great skill. FDR’s economic miracle provided the foundation of the US postwar economic dominance of the West, and produced widespread prosperity within the USA..8.2 The US Post-War Keynesian Period (1945–79) The United States of America entered the postwar period with acommanding position in manufacturing industry. One illustration of this is the production of motor cars, including all private motor vehicles of all types plus all kinds of commercial vehicles. The car production numbers look like this:Source: From Table 119 Page 270 of The Statistical Yearbook 1949-50 United Nations, New York,1950. [Note that the above table does not include the USSRor China.]The USA produced over 80% of the world’s motor vehicles from 1946 to 1949.The legacy of FDR’s 1938–44 economic miracle- the dozens of government-funded massive steel plants sold into private hands, the over 50 artificial-rubber-producing factories constructed by no-cost FED credit creation, and the similarly funded vast high strength aluminium production plants, as well as the better roads and ports and airports built to facilitate easy fast transport around the USA and exports and imports - all provided an excellent springboard for the great US growth of the consumer society in the 1950s and 1960s. American homes were the first to have the chrome-bumpered stylised cars and the car industry centred in Detroit became the backbone of the US economy and aluminium pots and pans were produced in the ex-wartime factories and used in US kitchens. The ingenuity of Americans seemed endless and highly admirable.On May 25 1961, John Fitzgerald Kennedy, the 35th President of the United States, announced and proposed that the US "should commit itself to achieving the goal, before this decade is out, of landing a man on the Moon and returning him safely to the Earth." See We choose to go to the Moon - WikipediaThe Moon Project succeeded and on 20 July 1969 Neil Armstrong became the first man to step on the lunar surface. It seemed that the Americans were living up to the statement in Genesis 11:16 that“Behold, the people [is] one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do.”The American Government development of the German rocket technology through Operation Paperclip (see Operation Paperclip - Wikipedia) and the leadership of Werner von Braun had done something which had been previously thought impossible.During the US post war period from 1945–79 there was a general acceptance by US politicians of the Keynesian economics of government fiscal stimulation to provide full employment. Successive US Governments acted in the interests of the American people, and due to full employment policies enjoyed the highest living standards in the world. In retrospect many people see this era as a kind of “golden age” of the US economy.As I observed when I was working for the UN in 1976, American economic advisors were widely regarded as beneficial angels, because their advice was specific to the circumstances of the nations being advised, and was both helpful and practical.8.3 The US Washington Consensus/Neoclassical Economics Era (1980–2015)The Washington Consensus era ushered in the usual fiscal contractionary policies not only in the USA but for all governments following the American lead. The re-introduced understandings of neoclassical economics were announced as being “valid everywhere in the world, like the laws of Physics” but unfortunately that was more of a hope than a reality. The recently-published acceptance of the failings of neoclassical economics by three IMF economists come to the conclusion that neoliberalism neoclassical economics has been oversold. SeeThe full articles can be read at Neoliberalism: Oversold?During the neo-classical post-Keynesian era of the USA, the central industry of the economy - motor car production - fell from the 80% of world output which it had been in the late 1940s to about 11.3% in 2017. The UK car production fell from about the range of 8% to 10% of the world total during the late 1940s to less than 1.8% in 2017, and even that percentage refers almost entirely to the production of foreign-owned motor car assembly plants in the UK (such as the three Japanese car companies Honda, Nissan, and Toyota and the French Company Groupe PSA which now owns Vauxhall).Source: This is an edited extract derived from the table at List of countries by motor vehicle production - WikipediaSome reduction from the market share by the USA and the UK in the late 1940s was of course inevitable as other nations industrialised, but the almost total 97% loss of production of light vehicle car production in the USA (with the US car companies concentrating on truck production) along with the replacement of a previously thriving motor industry in the UK by four foreign-owned assembly plants, represents a great loss in local manufacturing capacity and the loss of the components suppliers and worker employment which goes with it.9 The Continuing Relevance of the Mandate of Heaven The Mandate of Heaven is not only a theoretical guidance about how a leader should morally behave but is also a practical statement about how to create a faster-growing and even world-dominating economy. The political and economic declines of the Northern Song Empire, the Great Ming Empire, the United Kingdom and the USA have all been due to the political elevation of the rich elite of the nation above its people.That is not a political statement but an historical observation.9.1 The Role of Constrictionary Credit in the Yuan Empire And The Role Of Political “Conservatives” In Bringing About Rapid Economic Decline In Ming Yongle EmperorWhen China was taken over by the Mongols, that event ended the Song Empire. These new rulers did not understand the role of Wang-Anshi created investment credit for agriculture and industry and public works (such as maintaining the dams) as the source of Chinese prosperity. The Yuan/Mongol Empire ended the Empire of the Song and created credit for consumption purposes (as the US does today) and this caused the inflation which was one major reason (the other was crop failure due to lack of irrigation maintenance works) for the brevity of the Yuan Empire (1271–1368).When the “Conservatives” came to dominate Ming China, their major policy was the reduction of credit and the victimisation of the poor in defiance of the “Mandate of Heaven” and these policies led to the rapid end of the great Chinese Empire of the Ming Yongle Emperor. The Conservatives not only let the then-greatest shipyard in the world at Nanjing fall into disrepair but they also forbade the construction of ships of more than two masts and the Ministry of War implied that the voyages of the great Treasure Fleet were fictional because no-one alive could remember them, and much of the documentation about past greatness was deliberately destroyed, perhaps because it was an unwanted reminder of previous Chinese greatness compared to its subsequent decline. As is recorded at the Columbia University site at The Ming Voyages | Asia for Educators | Columbia University comments in the section headed The Fateful Decision :“The Ming court was divided into many factions, most sharply into the pro-expansionist voices led by the powerful eunuch factions that had been responsible for the policies supporting Zheng He's voyages, and more traditional conservative Confucian court advisers who argued for frugality. When another seafaring voyage was suggested to the court in 1477, the vice president of the Ministry of War confiscated all of Zheng He's records in the archives, damning them as "deceitful exaggerations of bizarre things far removed from the testimony of people's eyes and ears." He argued that "the expeditions of San Bao [meaning "Three Jewels," as Zheng He was called] to the West Ocean wasted tens of myriads of money and grain and moreover the people who met their deaths may be counted in the myriads. Although he returned with wonderful precious things, what benefit was it to the state?Linked to eunuch politics and wasteful policies, the voyages were over. By the century's end, ships could not be built with more than two masts, and in 1525 the government ordered the destruction of all oceangoing ships. The greatest navy in history, which once had 3,500 ships (the U.S. Navy today has only 324), was gone."9.2 In The United Kingdom The most inventive and innovative economy in the world was probably the United Kingdom at the time of the industrial revolution. About 850 local private banks were created to provide the loans required to fund the necessary equipment which could enable the transfer of local SME invention into factory floor innovation.The population of Great Britain in 1801 was about 10.5 million rising to 27 million by 1850. It is difficult to list all of the key inventions of the British era of industrialisation, but it seems that perhaps over 700 key inventions - or about 25 inventions per million people -may have occurred. According to the research of Simon Hermann, about 1600 “world champion” SMEs may have been created by Germany’s Sparkassen local SME-supporting banking system, and the private provincial banks of England and Wales may have supported a similar level of inventiveness and innovation.9.2.1 Two interesting books about the decline of the United KingdomMy selection is Robert Skidelsky’s Britain Since 1900 - A Success Story? [Paperback – 30 Oct 2014] and John Eatwell’s 1982 book Whatever Happened to Britain?The Skidelsky book is an interesting attempt to redefine Britain’s economic failure as a limited kind of social and political success. The author argues, as the Wikipedia review puts it, that“We are accustomed to judging nations by their success in increasing or maintaining power - by these measures Britain has failed to thrive, but what of quality of life, prosperity, political, cultural and moral values?The British people are richer and healthier than in 1900. Despite cataclysmic events and some fraying at the edges, our society is more democratic and tolerant, and our constitution of liberty has been preserved, at a cost. But inequality of wealth income is much as it was before 1914, finance is scarcely less proud or industry more content, and history continues to be made by the elite.”Unfortunately the facts contradict nearly all of what Skidelsky alleges. The quality of life in Britain has declined immensely for the 14 million poor and for these eight million families who are targeted by recent Conservative Governments as sources of saving for funding of Government tax cuts for the rich. See the excellent reports continually produced by the Joseph Rowntree Foundation about this topic, such as this one UK Poverty 2017 which points out that“UK Poverty 2017 highlights that overall, 14 million people live in poverty in the UK – over one in five of the population. This is made up of eight million working-age adults, four million children and 1.9 million pensioners. 8 million live in families where at least one person is in work.” andNumber of children in poverty surges by 100,000 in one yearLord Skidelsky, who is the author of by far the best biography of John Maynard Keynes, in his attempts to redefine Britain’s greatness in terms of its non-economic performance, is often wide of the mark. Prosperity is very unequally distributed as a consequence of Conservative Government policy. Our society is not more democratic because successive Conservative Governments have passed legislation to reduce the numbers of non-conservative voters on the voting rolls.Our society is not more tolerant. Race hate crimes surged upwards after the Conservative Government held the BREXIT referendum and Britain became more xenophobic.Our constitution of liberty has not been preserved. The takeover by the Cameron-led Coalition Government of the Electoral register through the 2013 Elector Registration and Administration Act was designed to drive millions of voters in the groups who did largely did not vote Conservative off the Parliamentary Voters Rolls. See David Cameron’s Partisan Gerrymandering of the British Democracy - where the evidence is listed. In the most extreme case of the largely black London constituency of Hackney, 40% of voters disappeared from the voting rolls.If the UK had a constitution like the US one, Cameron would have been impeached for the democracy-destroying effects of what he did.Allin all, I cannot even begin to agree that Britain since 1900 was in any respects “a success story”. To start the century with the most dominant, innovative and progressive economy in the world, and end it as an industrially demolished financialised low-level manufacturing economy; to start with the biggest bank in the world (The Midland Bank) and end it with that bank as a branch of the HSBC; to have had in Mrs Thatcher a Prime Minster who regarded the workers as “the internal enemy” and who destroyed first, the National Union of Mineworkers in a pitched battle at Orgeave (and the BBC reversed the order of events on TV, showing that the miners first attacked the police when the reality was the reverse) and second, the major pillars (except for the NHS) of the social contract and workers’ rights; the destruction of the coal mining and the steel industries of the UK, producing decline but not development ; the passing of the partisan Poll Tax (which had the intention of reducing non-Conservative voters on the Electoral Rolls) and which caused an unwarranted fourth Conservative victory for Major at the 1992 election - the 20th century showed that the UK Governments had lost their way in terms of economic development, social progress, economic understanding, and had failed in their duty of care to the British people. The elevation of political callousness and the destruction of the social contract, the elevation of finance above (and her hostility to) manufacturing, and the elevation of a non-performing Monetarism above Keynesianism were all wrong Government policies, none of which are adequately highlighted in Skidelsky’s book. The book resembles a kind of “BBC book” providing a comforting bedtime story to the British elite who the BBC represent and speak for. That book does not come to valid conclusions at all. The street parties spontaneously erupting at many locations on Thatcher’s death make a greater statement than this book does. See Criticism of the BBC for broadcasting five seconds (yes, five seconds!) of the song about Thatcher “Heigh ho, the wicked witch is dead” which criticism says a lot it does not intend to say. SeeRadio 1 controller defends decision over Lady Thatcher songGoogle produces 5.03 million hits for the words “Celebrations of Thatcher’s death.” I cannot begin to summarise these here.[I last read John Eatwell’s book several decades ago. I’ll re-read it and review it here in due course. More follows eventually.]10 The Relevance of Oswald Spengler’s Book “The Decline of the West” two volumes, Vol 1 1918 and revised 1922, Vol 2, 1923.Spengler thought a kind of plant analogy might apply to cultures -he illustrated that idea by identifying eight "high cultures" which were seeded and grow to maturity, then inevitably decay. In his view they all have a limited life of about two millennia, the first millennium consisting of growth followed by one of decline. There does not seem to be objective evidence for that viewpoint.Spengler's classification of the ideas of the Jews, Christians and Muslims, is "Magian" while the Ancient Greek and Roman ideas are "Appollinairian" and the modern Western ones are"Faustian."See https://en.wikipedia.org/wiki/The_Decline_of_the_WestSome of Spengler's summaries of trends are prescient. For example he says, according to the Wikipedia summary of his book (source quoted above)"Spengler notes that the greater the concentration of wealth in individuals, the more the fight for political power revolves around questions of money. One cannot even call this corruption or degeneracy, because this is in fact the necessary end of mature democratic systems."While that has certainly happened in the UK and the USA, it is the denial of democracy to allow rich individuals to have the overweening power to determine political decisions in their financial favour.10.1 The Failure of the so-called “Free Press”and MediaSpengler's comments on the media are interesting. From the Wikipedia summary above:"On the subject of the press, Spengler is equally contemptuous. Instead of conversations between men, the press and the "electrical news-service keep the waking-consciousness of whole people and continents under a deafening drum-fire of theses, catchwords, standpoints, scenes, feelings, day by day and year by year." Through the media, money is turned into force—the more spent, the more intense its influence."There are few better descriptions of the dog-whistle politics now usual in the Western media.10.2 The Failure of the Western “Democracies” - the USA and the UKIn both the USA and UK, the right to vote has been deliberately limited by government action to produce the success of right-wing candidates and governments.See The United Kingdom and the United States of America Have Both Lost “The Mandate of Heaven” where I say:“The Recent Removal of Voting Rights By Conservative Forces in US And UK Governments“Since 1980, the elective dictatorships of both the United Kingdom and the United States have increasingly ruled in the interests of the rich and privileged. But they have not been content just do that.“For example, voting rights have been denied to felons for the most minor offences in the USA, and the continuation of that disenfranchisement has been decided by the Florida governor Jeb Bush. This led to that state and its electoral college votes being declared for President George Bush in the 2000 election. As Mother Jones commented atHow Jeb Bush became a player in one of the South's darkest traditionshttps://www.motherjones.com/politics/2015/10/jeb-bush-florida-felon-voting-rights-clemency/“The 2000 presidential election was ultimately decided by a 537-vote margin in Florida. More than 500,000 ex-felons were barred from the polls, including at least 139,000 African Americans, who vote overwhelmingly for Democratic candidates. Their exclusion almost certainly changed the outcome of the race. The beneficiary, of course, was Jeb Bush’s brother.”“In the United Kingdom, David Cameron’s Coalition Government passed the 2013 Individual Registration and Administration Act which initially disenfranchised 13% of voters — mainly many women, the poor, council tenants, the Black and Middle East Community and the young — all of whom are unlikely to vote Conservative. In the worst case of the largely black community of Hackney, 40% of voters disappeared from the rolls. Cameron won the 2015 election to the surprise of all the pollsters and the people because of that massive politically-driven disenfranchisement.See “How David Cameron’s Government Stole the 2015 General Election” at:How David Cameron’s Coalition Government Stole the 2015 General ElectionAlthough the USA and the UK continually claim to be democracies, neither nation is now democratic.11 The End of The Dominance of the “Anglosphere”Many Western economists do not accept Kondratiev’s concept of cyclical booms and depressions as the historically major driving forces in history. It may be more useful to provide a reconsideration of the major issue, in the context of the indisputable end of the dominance of the Anglosphere.The “Anglosphere” era, when first Britain established a world-wide empire in which the Royal Navy ruled the waves and on which “the sun never set” and then the unrecognised takeover of that Empire by the American economy from 1945 lasted from 1735 until 2014, when the USA lost a century of economic pre-eminence and was replaced by China as the largest economy at $2014 PPP estimates, which the CIA World Factbook duly recorded.Arnold Toynbee in his monumental 12-volume “Study of History” has expressed the interesting view that civilisations respond to external challenges about three and a half times. He illustrates this by suggesting that when the invaders destroyed the dams and waterways that were crucial to the civilisations of Mesopotamia and Egypt, these essential irrigations were rebuilt well and perhaps even improved upon on the first three separate occasions, but after the the fourth destruction of these works the response was inadequate and half-hearted.If Toynbee’s view were correct, and if the period of hegemonic dominance is 70 years, then 3.5 “beats” is 245 years, and if the UK dominance started in 1735, this calculation suggests that the dominance of the Anglosphere should have ended from about 1970. That date does contain the seeds of UK/USA decline because it was during the 1970s that the neoclassical recovery and the ultimately less successful economic policies of the Washington Consensus (dominant from 1980) ruled the intellectual roost in the West, with the results we see today.12 Consequences The prioritisation of tax cuts for the already rich above the survival of the environment and the wealth and welfare of the workers has caused and is causing appalling outcomes. Dealing with each of these in detail would take too long, but very briefly three of the main consequences are:The Failure to Deal With Global Warming The warmest four years in the history of the world are the last four years. The Arctic is now so warm that the melting of the giant Greenland ice shield now looks inevitable, with a four degree rise in average world temperatures by 2090. The polar bears are now probably doomed to extinction. Major coastal cities will resemble Venice in future. Many important food-growing deltas (such as the Rhine in Europe, the delta of the Ganges, the Jamuna (which is the main channel of the Brahmaputra) and the Meghna rivers on which much of Bangladesh is located, the Nile, the Mississippi and more deltas than I can list here) will be salinated and food production will declineNeedless Poverty The almost four decades since 1980 have failed to produce a single economic miracle in the Anglosphere. The shutdown of manufacturing industries in the UK and the USAhas impoverished many millions of workers. Foreign Direct Investment has signally failed to support faster growth anywhere. The highest rate of foreign investment cannot possibly equal 25% of GDP year after year, so that result is predictable. Shimomuran macroeconomics enables nations to do for themselves what outside investors never could.China Must Lead Where The USA Doesn’t President Trump has declared that he doesn’t believe in global warming and has withdrawn from the Paris Agreement. China can and should lead on the major issues ofInternational financial reform, with the creation of an SDR-like international settlement system that will not be linked to any one currencyglobal warming, where known technical solutions could make an enormous difference and where China could partly fund these in a successor to OBOR (one World of Lesser Temperatures - OWOLT?)economic growth education, where the NSD college could educate nations about how to grow rapidly and “sustainably”13 Conclusions The great “losers” in history arethe people of the Song Empire who lost their high living standards when the first Chinese industrial revolution was snuffed out by the Mongols (who ruled China only for their benefit) in the Yuan Dynasty (1271–1368)the people of the Ming Empire who lost their high living standards when the Chinese industrial resurgence was ended by the Conservatives (who ruled China for the benefit of the rich) from 1422 and after the overthrow of the Yongle Emperor in 1424the people of the United Kingdom and the United States from 1980 when these countries both adopted the non-performing Washington Consensus Macroeconomics (WCM) and low growth and poverty spread to the home of the industrial revolution and the one-time American hope of the worldthe people of the Western and Westernised world who have lost higher development and living standards due to the frequently forced adoption (by Washington-based institutions) of the low-growth Washington Consensus/neoclassical macroeconomics14 The great “winners” in history are the people of these governments who adopted investment credit economics in some or all of its local and national formsIn the first industrial revolution of the pre-Mongol Northern Song Empire due to the understanding of the first no-cost investment creation economist Wang Anshi who was Prime Minister (from 1070–76) to the Emperor Shenzong (whose rule was from 1067–1085)In the industrial resurgence of the Great Ming Empire under the Yongle Emperor (ruled 1402–1424) who contracted and despatched the seven Treasure Fleets under Zheng He; during this dynasty the largest dockyards in the world were at Nanjing and the Emperor’s many construction and reclamation projects produced a widespread prosperityIn the three tobacco states of Maryland, Virginia, and North Carolina (1702-1776) when Tobacco Lord Promissory Notes of pounds of tobacco were an accepted currency causing an economic boomIn Scotland due to Tobacco Lord establishment of about 50 local banks from 1730 and their funding of Scottish industry 1735–1776 and subsequentlyIn England due to about 800 local private banks funding local SMEs from 1750–1880In Germany where the Sparkassen Banking System helped establish, grow, and develop local high-tech SMEs from about 1802 to the present dayIn the South Manchurian Railway Company where no-cost Japanese-fiat investment credit creation caused the first 20th century Asian economic miracle 1920–1945In the USA when the FED created vast amounts of credit to fund FDR’s industrial war-winning economic miracle 1938–1944In post war Japan (1945–1972) where investment credit creation led to the Japanese economy becoming the second largest industrial economy in the world by 1972 and where Japanese living standards, following the adoption of the Shimomura Income-Doubling Plan (1960–1970) by the Ikeda Government. doubled from 1960 to 1966 - See George Tait Edwards's answer to What should everyone know about Japanese history?In South Korea where President Park increased the economic growth rate to 14% pa for two decades from 1960 to 1980 by adopting Shimomuran MacroeconomicsIn Taiwan during the mid 1960s when the Taiwanese adopted Shimomuran macroeconomicsIn China from 1975 where the all-out adoption of Shimomuran Macroeconomics produced an economic growth rate of 10% a year from 1975 to 2015 lifting over a billion Chinese people out of poverty.The other Answers to this question are also interesting.

This is gonna be a long answer as I know the country very well. I’ve pinned this answer because it’s come to cover multiple topics that I consider essential such as the Taiwan Strait issue, and I’ll keep updating it if need be. You can practically view this as an introduction of Taiwan that doesn’t simply only answer the question it’s supposed to. My motivation of developing this answer into a complex pack instead of just replying to the question alone, is that I’ve figured I wouldn’t be able to refute each and every lie and every single bit of fallacious information intentionally constructed that many Quorans that are up to no good present. Especially regarding Taiwan’s legal status. These Quorans are more often than not nationals of the People’s Republic of China, regardless where they(more)