Take China and India for instance. For three decades, the dragon nation grew at an average annual growth rate of 10%, which drastically improved the standard of living of its citizens and made it a force to reckon with in the international arena. But its growth engine has slowed down due to many reasons; its sheer size and a business model relying too much on exports being part of them.

India's issues are too well known. Difficulty in doing business in the country due to redundant land and labour laws, corruption and red tape continue to pose problems. Not to mention a high fiscal and current account deficit, which have not left much headroom for the government to spend on productive areas.