Finally, he called attention to Asia's worsening environmental conditions and its growing contribution to global air pollution. Lalita Gupte took up the question of the old and new economies, emphasizing that the two must be seen as complementary. Knowledge capital and market information are crucial to both, and the old economy needs to acquire the skill sets of the new in order to remain competitive. Ms. Gupte predicted a convergence of the old and new economies, driven by their need for access to the same markets. Daniel Mao began his comments with a play on acronyms.
China holds an advantage in the prevalence of the internet.
Currently there are 22.5 million internet users in China, compared with only 8 million in India. China's higher literacy rate also promises to allow for faster growth. In addition, the Chinese government is moving ahead faster on internet issues by taking steps to develop internet infrastructure alongside attempts to control its content. Mr. Ramadorai noted that the Indian government, for its part, has undertaken a plan to boost information technology in rural areas and in schools. Corruption and bureaucracy persist as challenges to Asian business.