China is upheld as a growth model for India so often that it is good to know that the two countries occasionally face similar problems. Speaking at an event in Mumbai recently, Minggao Shen, who heads research at the China unit of Citigroup, said, “With the advent of the rainy season, food price inflation will come down... but people are worried about power shortage.” He was talking about China, of course, but he could as well have been talking about India. He also spoke about the possibility of two more rate hikes by China’s central bank. A familiar tune for Mint Road officials?
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