20 years ago American industry thought the future was the BRIC strategy.
BRIC stands for Brazil, Russia, India, and China.
As it happened, Brazil proved as corrupt and dysfunctional as most Latin American countries. Russia was supposed to be an opportunity after the Soviet Union fell. But the government and organized crime turned out to have the same phone number. No foreign company can make money there.
That left India and China. China has always been authoritarian. If the government says, "Jump," everyone answers, "How high, SIr!" So its prosperity was basically dictated after they abandoned the insane ideology of Mao.
But India is a squabbling mess. Different cults, tribes, religions, castes, whatever. Heck, they can't even get the people to use toilets the government provides. They prefer to crap on the ground. There are bright people there and many well educated. But the overall weight of their culture is such that I don't think they will ever challenge what China has done.
