China and India contribute more than a third to global population, but still only account for a quarter of global output. So, as their economies mature and their markets open more to outside investment, their respective growth and inflation stories increasingly matter for global investors. Flow dynamics are of particular interest, given the equity markets in both economies have been underinvested in for years. And, with the Chinese renminbi a low-yielding currency and the Indian rupee a high-yielder, many of most popular and profitable carry trading strategies in FX markets over the last 18 months hinge on the path these two currencies take. This week, we take a deep dive into the world's second and fifth-largest economies, with a special focus on the forthcoming Indian election results and their impact, with the help of four of our Macro Strategy and Trading colleagues in the region.