Martin Taylor Speaks:

China is the world’s second-largest economy, but already much larger than the U.S. in a broad swathe of sectors. India will be the world’s third-largest economy in a decade. Unfortunately, their rise is increasing the global cost of capital because an ever-growing share of the most important data they produce is simply not credible. This obfuscation and distortion of data, whether deliberate or inadvertent, makes it increasingly difficult to forecast.