The Limits of Asia’s Two Major Growth Models

This Opinion was originally published in Project Syndicate and republished by The Edge Malaysia, DT Next, and The Japan Times.

Data from a period in which both China and India pursued deliberate industrial policies show that neither country's development route is accessible to other countries. At best, their experience can alert policymakers to structural limitations and coordination problems that will require their own homegrown solutions.

RABAT—What is the most reliable development path for an increasingly fragmented global economy? China and India, the world’s two most populous countries, each represent a different answer. But can other countries emulate them?

>>Read more