India Not Waiting in the Wing to Replace China, Manufacturing-Wise

choi

Keith Bradsher, Simon Romero and Ceylan Yeginsu, Breathing Room for Emerging Markets Watching Money Flees; Foreign banks and firms have become more careful about borrowing in dollars. New York Times, Sept 19, 2013
http://www.nytimes.com/2013/09/2 ... ng-pushed-back.html

Quote:

“From Indonesia and India to Turkey and Brazil, capital flight from developing economies to the United States * * * Investors have been moving money into dollar-based investments that offer higher yields.
“The most vulnerable countries are those running large trade deficits they have been financing with dollars from overseas investors’ purchases of local assets like real estate, stocks and bonds. India is conspicuous on that list, as its poor roads and stifling bureaucracy have discouraged exports and resulted in its luring few of the factories now moving out of China in response to surging wages there.

My comment: Quotation 2 is the only mention of China in this report, the rest of which there is no need to read.