On the shambolic streets of New Delhi a new power is rising. India remains poor, but enjoys rapid economic growth rates and now possesses the world’s fourth largest economy. If New Delhi politicians free their entrepreneurial people, India may join China as a coming superpower.
Globalization has been an extraordinary force for good. China and India are its greatest success stories.
After the death of Mao Zedong the Chinese government adopted far-reaching market-oriented reforms and is now booming economically. However, the so-called People’s Republic of China is not yet free: The Communist Party resists political democratization and continues to interfere in economic matters. Indeed, China faces economic distortion, social instability, and political uncertainty.
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