4 min read.Updated: 24 Jun 2013, 08:55 AM ISTJim O’Neill
Emerging-market gloom is overdone. India, in particular, could teach the pessimists a lesson
It’s fashionable to say the era of strong emerging-market growth is over. As the US recovers, the global cost of capital will rise, holding back investment; against this background, avoiding the next crisis is the best that most emerging economies can do. If you take this view, India might seem a perfect example, with its widening current account deficit, heavy public borrowing, persistent inflation and weak currency.