As the Chinese economy boomed, few cities soared faster or higher than Shenmu, a community of nearly 500,000 in northwestern China.But a painful credit crisis is now spreading across Shenmu and cities nearby, as thousands of businesses have closed, fleets of BMWs and Audis have been repossessed and street protests have erupted.

India is in the same stage as every business from agriculture to automobiles register negative growth this year as falling rupees increase the trouble which could make an impact in coming 2014 elections as open economy is doing more damage.

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