Martin Wolf: Asia’s giants take different routes

604F37D8-44Db-11D8-81C6-0820Abe49A01 From Financial Times (sub only):

Almost two out of every five people on the planet are either Chinese or Indian. China alone has more people than Latin America and sub-Saharan Africa combined. The economic rise of Asia’s giants is, therefore, the most important story of our age. It heralds the end, in the not too distant future, of as much as five centuries of domination by the Europeans and their colonial offshoots.

What sort of economic performance have the two giants shown in the past quarter-century? Why did growth accelerate at much the same time in both? Why has China performed so much better than ? Will both continue to grow rapidly? Will India even catch up on China? These five questions need to be addressed if we are to understand the world of tomorrow and, even more, of the day after.

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