The NY Times ran a great article today about economic disparities between China and India. The gist of it: China and India’s economies were on a par 20 years ago, but China is pulling way ahead. The available resources are more or less similar.
The Times implies that it’s largely due to China’s unfettered capitalism experiments, which is no doubt a big part of it; on the other hand, blaming India’s copious local regulations without examining the consequences of China’s lack of regulation is a bit shaky. They do touch on the cheap labor available in China, but they don’t ask why American companies aren’t as eager to develop the Indian markets. Maybe they’re seen as already developed, not sure.
Happy Thanksgiving, by the by.