Over the past few years the media have been agog over the rise of China and India in the international economy - and their remarkable recovery in this current global recession. After decades of relative stagnation, these two countries, containing nearly two-fifths of the world population, have had incomes grow at remarkably high rates since 1985.
In the world trade of manufacturing, China, and in that of services, India, have made big strides, much to the consternation - as yet largely unfounded - of workers and professionals in rich countries. The industrial growth along with acquisition of international companies by China and India attract much of the Western media attention.
Read Full Article »
