AI Snips
Chapters
Transcript
Episode notes
Economic Convergence and Divergence
- While economic convergence has occurred since 1997, India and China still lag behind leading nations.
- Disparities persist, and complacency during periods of high growth can lead to stagnation.
Episodic Growth and Complacency
- Growth in non-OECD countries is episodic, marked by rapid growth followed by various outcomes.
- Complacency during periods of high growth can be detrimental, as it can lead to stagnation.
Deals-Based Economy vs. Institutions
- India's growth relies on "deals" rather than strong institutions and rule of law.
- This deal-based economy creates uncertainty, making sustained growth challenging.