Portside

'The US presence in Afghanistan and Iraq and Pakistan's official role as America's junior partner in the war on terror, makes that region a much-reported place. The rest of the world is at least aware of the dangers unfolding there. Less understood, and harder to read, is the perilous wind that's picking up speed in the world's favourite new superpower. The Indian economy is in considerable trouble. The aggressive, acquisitive ambition that economic liberalisation unleashed in the newly created middle class is quickly turning into an equally aggressive frustration. The aircraft they were sitting in has begun to stall just after take off. Exhilaration is turning to panic.'