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China and India's simultaneous slowdowns demand radical change

Leaders in Beijing and Delhi fail to grasp severe need for reform

| India
Narendra Modi and Xi Jinping talk during their meeting in Mamallapuram, India on Oct. 12: a pronounced China-India slowdown would place pressure on both countries' political systems. (Handout photo from India's Press Information Bureau)

China and India have been Asia's growth engines for the best part of two decades. That golden period of rapid expansion now appears, at least temporarily, to be coming to an end. In its place a synchronized China-India slowdown is emerging for which neither nation is well prepared.

Of the two, India's predicament is more shocking. Third-quarter data released on November 29 showed growth sliding to 4.5%, the lowest in six years and down from around 8% in the second quarter of 2018.

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