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ZT CD= 5 It is now commonplace to regard China and India as the two Q economies in the developing world that are the" success stories" of g^ globalisation, emerging into giant economies of the twenty first fD century. The success is defined by the high and sustained rates of ZT growth of aggregate and per capita national income; the absence of-5 major financial crises that have characterised a number of other? u emerging markets; and substantial reduction in income poverty. q_ These results in turn are viewed as the consequences of a combination?*? of a" prudent" yet extensive programme of global economic^< integration and domestic deregulation, as well as sound r+ m macroeconomic management. These supposed success stories have/~\therefore been used to argue the case for globalisation and to indicate ZT the potential benefits that other developing countries can reap, as^ long as they also follow" …