China and India need to fix their economies and societies, and to do so, they have to deal with some grim news. Growth is slowing, though in China’s case that helps cool an overheated economy. In both countries, exports are falling, inflation is at painful levels, income inequality is reaching great proportions, and injustices like land grabs are sparking widespread protests. The two countries have lifted countless millions of the unemployed out of poverty, but countless other millions – youths, workers and farmers – remain marginalized and desperate for decent livelihoods. While China does not follow the rules, India has too many rules to follow. China is struggling to contain assets, deal with bad loans and to rebalance its economy away from state-directed investment to consumer-led growth. India’s reputation, meanwhile, has been so damaged by bureaucratic corruption that the country’s top corporations have hired US consultancy firms to make a so-called “credible India” campaign. However, it seems that India needs to do lots of work to overcome its bad reputation and there is no guarantee that it will be able to do so.