I enjoy reading the Economist for news/commentary from around the world. Recently they features several articles about the emergence of India and China as economic power houses. The Economist gave India the edge for various reasons, including that it is a democracy.
An example of the entrepreneurial spirit in India was a slum in Mumbai housing about 1 million people. The passages between the huts are not wide enough for a car to pass through, yet this area houses tens of thousands of small businesses. The report mentioned one business owner, producing pockets for jeans which are then send on to be sown onto jeans which were sold in the Middle East. The owner started with two sewing machines, and was very proud to have added a fourth machine/employee recently. He was under 21 years old!
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