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China's raft of financial and economic troubles appears to have spooked investors and businesses into pivoting to India instead.

"There has been increasing confusion over Beijing's policy stance on the economy," wrote Nomura economists in a Monday note seen by Business Insider.

Mortgage rates are finally falling, the real-estate brokerage said, after a year where higher borrowing costs drove away potential homebuyers.

Cooling inflation and a flat unemployment rate don't matter as much to people as prices and jobs, according to Laffer.

The technology will make the rivalry between the world's two largest economies even more charged, Capital Economics said.