In the mid-1980s, when MasterCard entered the market, the clearing system between banks in different cities was (and is) almost non-existent: a cheque could take up to a month to clear, and many sellers would not release goods until it did.

ECONOMIST: Who��d have credited it?

Since the demise of the old system, health-insurance coverage has been patchy and in rural areas mostly non-existent.

ECONOMIST: Getting old before getting rich