IS INDIA THE NEW CHINA? So says Morgan Stanley's normally cranky Stephen Roach. "After my third trip there in 18 months, I am as enthusiastic about India as I was about China in the late 1990s," he writes in a new report. "With its foundation of consumer support broadening and deepening, the Indian GDP growth dynamic could now shift toward the upper end of a 7% to 8% range. I have long argued that global rebalancing will not occur as long as the world remains hooked on one consumer�namely, the American consumer. Think India if you want a way out of that trap."