"The latest Atlantis China Fund newsletter, I liked the conclusion paragraph.

"On a different subject, I spend last year 9 weeks in China and 5 weeks in India (September till December)

"We travelled without a guide and booked not longer than a few days ahead hotels/flights/trains using the internet. We have an idea were we want to go but stay longer or shorter or change the plan on the moment we feel like.
In Yunnan we rented a car and driver and with the help from the Lonely Planet phrasebook, we spent time in places like Lijiang, Deqing, Luguhu, Haba, Chizhong, Weixi, Shaxi, Weishan etc.

"Wherever we went, infrastructure was being built or improved, the country side is poor but very friendly people (for some reason we often received a bag of apples as a gift) Fast internet, except for Chizong, available everywhere, except for Luguhu lake (one time). No electricity blackouts. We could walk any time of the day safely wherever we went, like anywhere else in China. (We have been a few times over the years in China)

"We went from Kunming China to Kolkata India the first week of November, this was our first time in India:

"Electricity blackouts almost every day in all places except for Agra, airports were in a mess (Kolkota must beat them all) open sewage except for Amritsar and Delhi roads except for some in Rajasthan in a terrible condition. In Udaipur we had to jump in a taxi because we were worried to be robbed. Varanasi, in the evening soldiers on all corners of the street to keep the Hindu and Muslims apart. Wherever we went (North India from Kolkata to Amritsar) trains were more than filthy etc. Internet off more often than not and if we had it, it was slow.

"I have to admit that we love China, in China when you speak with locals (there is always someone who speaks English) people are interested about our country, proud of what China has achieved and eager to visit Europe (especially Paris for some reason). In India, the discussion tends to go most of the time about the rampant corruption.

"I have no doubt that in China there is a corruption problem but wherever we go in China from the small village to Shanghai you see progress and no open sewage. In India there must be progress given the growth rate or is it only in some pockets of the country? China we will go back every 2 years, India I don't know yet.

"But one thing puzzles me, how can India be compared with China, democracy in India but villages seem to sell there votes, or good management in China I would not hesitate to live in China but India?

"Above has not so much to do with Fullermoney, or maybe it has, I have sold my investments in India when I came back. I am currently invested for 69% in Asia (in China 41%) so I obviously talk my book!"

Eoin Treacy's view Thank you for taking the time to pen this insightful email. We are always delighted to hear the first hand impressions of our subscribers' travels in Fullermoney themed markets.

China's political establishment is probably more accurately described today by an authoritarian capitalist regime than Communism while India's vibrant/chaotic democracy continues to have difficulty shedding its failed controlled socialist economic model.

China's advances are readily apparent in the scale of infrastructure development, the nation's resurgent confidence and economic prowess. India has a great deal of work to do if it is to compete with China. However, the country's strength is in its ability to create entrepreneurs and companies capable of competing on the global stage. It shares China's unbounded potential but requires careful stewardship.

Both China and India are developing quickly but from different levels. I agree corruption is a worry from a governance perspective in many emerging markets, not least China and India. However, the trajectory of governance is probably more important than the absolute level. From this perspective, I am willing to continue to give the benefit of the doubt to both China and India.