Samba or Tae-Kwon-Do?

Is India more likely to follow a Latin American or East Asian development path? In the past few years a superficial glance at the numbers would suggest that India had got on to a rapid growth dynamic akin to the multi-decade, transformational path of Japan, Korea and China. That was probably always misleading. In many ways India has as much to learn from the Latin American as from the East Asian experience. While the immediate causes of India’s growth slowdown are external, this is a good time to reassess.