Moreover, it can affect not only economic growth but also a country's social structure.

ECONOMIST: Mortgage markets

"As Qiao Shi noted, the codes are to provide a more comprehensive legal framework for the 'establishment of a socialist market economic structure, and a sustainable and more efficient economic growth, '" says Wu Zuguang, a liberal playwright in Beijing.

CNN: CHINA

Hausmann argues that diversification in the economic structure, and not necessarily specialization, may be a crucial factor for accelerating growth in India.

FORBES: India Likely To Replace Japan As World's Third Largest Economy