The US economy can count on strong private consumption.
US growth is firmly on track. The manufacturing sector has been hurt a bit by falling exports due to the strong dollar but services, accounting for 78% of GDP, are in fine fettle. Chalk this up to robust domestic consumption. (...)
India’s reform drive, if successful, should help overcome its tangle of red tape and dearth of infrastructure.
The Indian economy stands out from its emerging peers because of its incredible development potential. The Bombay stockmarket has seen its Sensex index rise fivefold since 2000. While China and India together accounted for half of global economic activity for centuries, the People’s Republic pulled far ahead in the 1990s in terms of wealth generation. (...)