Not many New Zealanders may have noticed what is happening in China or India – but their economies appear to be tracking in opposite directions. Those movements could have a powerful impact in turn on NZ’s economic fortunes.
Point of Order is indebted to two remarkable pieces of journalism for insights that give context to these issues. One report appeared in the Guardian Weekly, the other in The Economist.
The first, by Larry Elliott, was headed “Stifled dragon: No-one should take delight in Beijing’s economic woes” and argues a full-blown economic crash would be as damaging to the world as the US sub-prime mortgage crisis was.
The report in The Economist focused on India’s economy which, it said, is likely to be the world’s fastest-growing big economy this year. The details prompted The Economist to editorialise that the Indian economy is being rewired.
“The opportunity is immense— and so are the stakes”.
