General Motors president and CEO Rick Wagoner has called on China, and Shanghai in particular, to improve its underdeveloped service sector. "The growth and efficiency of services are critical to the welfare of an entire society," he said in a statement issued by GM's China subsidiary. The country's service sector represents 32% of GDP, compared to 51% in India. However, the balance is tilted by China's strong industrial sector, which has benefited more from the opening up process and contributes more than half of GDP compared to India's 21%.
Categories