From The Business Standard: The OECD finds that China’s recent success is due both to bold policy and high investment. Will India follow.
The Organisation for Economic Cooperation and Development (OECD), based in Paris, is often considered the “rich nations’ club”.
It was founded in 1960 following the successful reconstruction of Europe under the Marshall Plan, to help co-ordinate economic and social policies among the core affluent countries of North America, Europe, and the Pacific, to facilitate their growth and to devise common policies toward the other blocs of that age, namely the communist countries and the developing world.
Over the last couple of decades, and particularly after the end of the cold war, some of the richer emerging markets, such as Mexico, Poland and Turkey have also become members. Today the membership comprises 30 affluent democracies, the bulk of which are located in Europe.
