The Indians are coming: India nevertheless accepts that it cannot compete directly with China’s substantial financial clout, and is instead aiming for a more nuanced partnership, based on “south-south” reciprocity, as opposed to a colonial-style “north-south” relationship, which is seen as more typical of China and the West. [Economist]
The citadels of the global economy are yielding to China’s battering ram: In June Justin Lin Yifu, a Beijing professor, will take up the post of chief economist at the World Bank. Nothing could be a clearer sign of the times. This is the number two job in one of the two major international economic institutions, the other being the International Monetary Fund. [Guardian]
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