India rice export ban will fuel ‘volatility’ in global food prices, IMF warns
IndependentAPR 2023
While upgrading its evaluation of Indian markets, Morgan Stanley also downgraded China’s, suggesting there may be a new growth leader in Asia. India’s profile has striking similarities to what China used to have when it started its path to unprecedented growth. India’s population and pro-growth policies will allow it to outperform China in many key categories while China suffers from its botched COVID recovery and aging population.
While India may be the hot and exciting emerging market with the world’s population, it's pretty easy to see why its economy will never overtake China’s. Despite starting with similar populations and per capita incomes in the 1980s, China and India have seen drastically different economic outcomes over the last 40 years. That can be boiled down to China’s profound commitment to education and technology. China is so far ahead of India in both fronts that it would be impossible for the South Asian nation to catch up.