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The triumph of India's reforms

Arvind Panagariya writes, for the Cato institute:

The response of the economy to the reforms has been an order of magnitude weaker in India than in China... despite considerable growth, the share of industry did not rise in India.


2005 Capital Access Index

The Milken Institute has published their 2005 Capital Access Index – meant to benchmark how easy it is for new and existing firms to access capital in 121 different countries, with the UK taking the top spot. Malaysia and Chile emerge as the top-performing developing countries; while Mexico, Bulgaria and Argentina earn praise for their significant improvement over last year.

The world is not flat!

Morgan Stanley Chief Economist Stephen Roach takes aim at Tom Friedman’s catch-phrase theory, arguing that the world economy, far from being flat, is really characterized by disparities and tension.

Globalization may well be win-win in the long run — but in the here and now, it is profoundly asymmetrical…