China and India: The big differences Jayati Ghosh

China and India seem to be the hot topics in the world economy today. In the international press, there is almost an obsession with these two economies, and how their current growth presages the coming “Asian century”. It is not just that they are both countries with large populations covering substantial and diverse geographical areas, and therefore with huge potential economic size. Most of all, they are cited as the current “success stories”: two economies in the developing world that have apparently benefited from globalisation, with relatively high and stable rates of growth for more than two decades and substantial…