India

We got word from India this morning that the economy there is dragging. It grew at a rate of just 5.5 percent last quarter, which was the slowest pace in three years.

India has a much younger population than many developed countries, but this “demographic dividend” is a only a good thing when young people can find work.

But after the recent massive power outages in the country, some Indians are concerned that the money should be invested in infrastructure instead.

Indian electricity bosses are less accountable than their Chinese counterparts even though India is a democracy and China a one-party state.

India needs many more generating plants to keep up with exploding demand for electricity, but the distribution system is so corrupt that investors are reluctant to put money in new plants.

In India, 600 million people lost power this morning. It's the second major blackout there in just two days.

Today blackouts in northern India spread to the eastern states, affecting half of the country's 1.2 billion people. Many office buildings are running on generators; More than a hundred trains were stranded in the summertime heat.

Employee riots at India's largest car-maker — Maruti — have burned down part of the factory, shut down the plant and killed a human resources manager.

It wasn't long ago that many thought India's growth rates could surpass those of its long-time rival, China. But China retains the upper hand in that relationship, thanks in part to its exports.

In Mumbai, the square-mile area known as Dharavi has a million residents and myriad small businesses, but authorities plan to redevelop the slum.