美林-中国和印度详细比较报告China and India:
Comparing the Risks

􀂄 Is China or India a bigger market risk?
Big, structural comparisons between the two countries are engaging. But the
short-term outlook is probably more important right now. Emerging markets are
ripe for a negative shock: optimism is widespread, global liquidity is tightening up,
and both China and India are both headed for a slowdown.
We think investors should be more concerned about India
Inflation appears under control for now, and the RBI kept rates steady at its policy
meeting on April 18. However, demand is outpacing supply and credit growth is
extremely high. We see upside risks to interest rates and downside risks to capital
inflows.
The balance-