New Delhi, Jan. 1 -- As estimated, 2025 gave India fourth rank among economies, placing us in the world's top club, though with the US, EU and China still some multiples ahead in size.

As expected, 2026 will see a census begin that's likely to place India on top by population, displacing China, whose economy is almost five times India's.

As Beijing gets globally assertive, this is not just the comparison we must track, but a reminder of what's at stake in a world of power asymmetry.

The past year saw the US take a statist turn and China shrug off charges of warping world trade.

While China's rise has brought industrial policy into vogue and market economics may seem in retreat on several fronts, we mustn't forget that it didn't just m...