By Harry G. Broadman (original source Forbes)
“Market sentiment is forever fickle about economic races between countries, especially where emerging markets are concerned. Today, intense attention is focused on India’s strong growth prospects and the chance they ultimately may overshadow those of the current ‘second largest’ economy in the world–China. This may well turn out to not be a fad, and the smart money has begun to move India’s way.
It wasn’t always like this. Over the last three decades, the big debate about the role of emerging markets in the global economy first centered on whether it would be the Russian or the Chinese economic model that will prove to be the most effective in making the transition from a socialist to a market-oriented system.”
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