BRIC report had identified China and India as potentially the two fastest growing states that could one day rival the US in GDP. By 1990, China had emerged as the world’s manufacturing champion. Later, India emerged as a champion exporter of services, ranging from computer software to back office work, call centres, and R&D.
China had always been a UN Security Council member, and since 1990 was acknowledged as an economic powerhouse. But at the time the world bracketed India with Pakistan, because of their long history of aid and antagonism. In the 1990s, India and Pakistan required massive assistance from the IMF and World Bank.
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