China seems to be on a roll - Its economy grew 9.5% ! in 2004, the fastest in the last 8 years. Its GDP now touches $1.6 trillion - this despite the fact that it is trying hard to slow down its growth to prevent over-heating its economy. And hear this - personal disposable income rose 7.7% in urban areas and 6.8% in rural areas, the fastest since 1997 - we are witnessing the emergence of a new super-power.
For all India might talk about having a decade's lead over China in software et. al., we should not underestimate determination - it is the basis for all achievement. I would not be surprised if they match us soon in the IT field too, after all, who could have predicted man would ever set foot on the moon - there is one thing no forecasting method can ever predict or account for - the determination of man.
Article in Bloomberg.