By Fareed Zakaria
“America’s economic problem is not China but getting its own policy house in order; similarly, China’s future depends not on issues with respect to the United States but on meeting its own challenges,” writes Robert Rubin in the Washington Post. “The United States has enormous long-term strengths, including a dynamic and entrepreneurial culture, the rule of law, flexible labor and capital markets, vast natural resources and favorable demographics. But to realize our potential, we need a sound fiscal regime; robust public investment in infrastructure, basic research and so much else; and reform in economically vital areas, such as immigration and K-12 education. (A deficit-reduction program should be enacted now, but with deferral for a limited period and a moderate upfront stimulus to help our fragile economic recovery.)”
“Mangalyaan’s mission to Mars cost India $73 million. For comparison, Boeing prices its least expensive commercial airplane at $76 million,” notes Samanth Subramanian in the New Yorker. “And by India’s profligate standards of public expenditure, the Mars Orbiter Mission has come cheap: an eight-lane bridge in Mumbai that opened in 2010 spans three miles and cost $340 million; a proposed statue of a long-dead Indian politician—designed to stand twice as tall as the Statue of Liberty—will $300 million."