9780415406291

China and India: A Tale of Two Economies

by ;
  • ISBN13:

    9780415406291

  • ISBN10:

    0415406293

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2006-11-22
  • Publisher: Routledge
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Summary

The economies of the People's Republic of China and India are emerging-market economies, which account for more than a third of the global population. These two economies share many similarities in that they are large populous neighbors, who were regarded as abjectly poor countries until the 1980's and both are ancient cultures which has both advantages and disadvantages for economic development. However, their political systems are very different. While India is an open democratic society, China is a closed society run in an authoritarian manner by the Chinese Communist Party. This dissimilarity impacts on the economic decision making process in the two economies. This book is the first to systematically compare and contrast the two economies. It takes an objective and dispassionate view and delves into the constructive and favorable side as well as adverse and unfavorable side of the two economies. Written in a comprehensive and authoritative manner, it covers large areas of the two economies, includingtrade and financial sectors. It also includes other important relevant facets of the two economies.

Table of Contents

Preface xi
Acknowledgements xvii
About the author xix
Tables xxi
1 Comparing the comparables 1(26)
1. Juxtaposing two populous giants
1(2)
2. Comparing pre-modern China and India
3(7)
3. Twists and turns in the twentieth century
10(1)
4. Relative statistical profiles of the two economies
11(3)
5. A plausible place in the global economy
14(5)
6. Alarm bells for the global economy?
19(4)
7. A larger potential global impact for China?
23(1)
8. How does each perceive the other?
24(2)
9. Conclusion and summary
26(1)
2 Diverse economic growth paths 27(41)
1. Discarding deliberate isolationism and launching into concerted growth
27(6)
2. Income and poverty trends
33(4)
3. Motivation and launching of the reform programs
37(2)
4. China: reform paradigm and economic growth
39(8)
5. India: reform paradigm and economic growth
47(8)
6. Comparison of manufacturing sectors and export performance
55(3)
7. Comparing the business environment in China and India
58(3)
8. Why has India lagged behind China?
61(2)
9. Sustainability and attainability of high growth rates
63(2)
10. Conclusions and summary
65(3)
3 The dragon's breath: the transitioning Chinese economy 68(29)
1. Introduction
68(1)
2. Why did the reform and liberalization program succeed?
69(2)
3. The high growth environment and deflation
71(1)
4. Saving and investment rates
71(2)
5. As China emerges as a large trading economy
73(8)
6. Foreign direct investment flows
81(6)
7. Impact of the transitioning Chinese economy on the Asian economies
87(4)
8. Advanced-technology exports: another global accomplishment
91(2)
9. Swaying regional and global economies
93(2)
10. Conclusions and summary
95(2)
4 The elephant's saunter: the transitioning Indian economy 97(34)
1. Introduction
97(1)
2. Fervent dirigisme and recent growth trends
98(3)
3. The fiscal-cum-Balance-of-Payments crisis
101(10)
4. Achievements of reforms and lack thereof
111(5)
5. Integration with the global economy
116(4)
6. Growth momentum in the tertiary sector
120(5)
7. Dynamism in Indian companies
125(2)
8. Transition to a high growth trajectory?
127(1)
9. Conclusion and summary
128(3)
5 Crouching tiger, hidden dragon: how the two emerging economies interact with each other 131(22)
1. Historic intellectual, cultural and economic relations
131(1)
2. Bilateral relations during the contemporary period
132(3)
3. Rapid bilateral trade expansion
135(5)
4. Foreign direct investment
140(6)
5. Building closer economic bonds
146(5)
6. Conclusion and summary
151(2)
Notes 153(10)
Bibliography 163(10)
Index 173

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