From The BusinessWeek:
Two emerging economic powers, two very different machines. Will the future be an “arc of prosperity” or a jobs battleground?
When it comes to both China and India, the superlatives come fast and furious. Each one is a fast-track developing economy with vast potential for the decades ahead.
India is the fabled back office and outsourcing hub of the global economy and a vibrant if sometimes dysfunctional democracy. China, meanwhile, is a manufacturing and export phenomenon with a command-and-control political culture. Together the countries represent about 40% of the global population, both are growing at or near double-digit levels and “thus are reshaping the global economy in their own images,” suggests Yuwa Hedrick-Wong, an economic advisor with MasterCard International Asia Pacific. [Full Text]
