09.05.2013 13:28

A Tale of Two Giants

The elephant and the dragon are entering a new chapter, and the main question they both face is whether they will reform before a crisis or after
By Andy Xie
 

India and China are suffering growth challenges. While the immediate reasons for the challenge – overdependence on hot money for India and overreach of the export/investment model for China – are different, both missed two golden opportunities to address their problems. The first was when the global economy was booming before 2008; the second came when global liquidity was rising from 2008 to 2012.

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Zhou Yongkang's rise from rural China, the empire he built and the stunning decision to topple him
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