Can India overtake China?(economic development )

From: Foreign Policy | Date: July 1, 2003| Author: | Copyright information

What's the fastest route to economic development? Welcome foreign direct investment (FDI), says China, and most policy experts agree. But a comparison with long-time laggard India suggests that FDI is not the only path to prosperity. Indeed, India's homegrown entrepreneurs may give it a long-term advantage over a China hamstrung by inefficient banks and capital markets.

Walk into any Wal-Mart and you won't be surprised to see the shelves sagging with Chinese-made goods--everything from shoes and garments to toys and electronics. But the ubiquitous "Made in China" label ...

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