India, China and Globalization The Emerging Superpowers and the Future of Economic Development

by Mahtaney, Piya

• ISBN13: 9780230500518
• ISBN10: 023050051X
• Format: Hardcover
• Copyright: 2008-01-15
• Publisher: Palgrave Macmillan

Summary

This book explores the expansive economic experiences of India and China and charts their journey in becoming economic superpowers.

Author Biography

PIYA MAHTANEY is a development economist who has worked as a journalist with the Economic Times and author of The Economic Con-Game.

Table of Contents

List of Tables, Figures and Boxes	p. ix
The New Age Paradox	p. 1
The new age paradox: inevitability and implications	p. 1
The way ahead	p. 8
The Rising Superpowers: Issues, Implications and the Future
Introduction to Part I	p. 14
India's Story: As it Rolls On	p. 17
India: Her Tryst with Globalization	p. 18
The turning point	p. 18
Role of FDI in the Indian economy	p. 24
Liberalization and the dynamics of economic progress	p. 27
Economic Reform: Moving Beyond Liberalization	p. 30
Sustainable growth and economic reform	p. 31
The political economy of underdevelopment: its ramifications	p. 32
Infrastructure provision and human capital formation: a story of unaffordable paucity	p. 34
Privatization: an overview of its impact in India	p. 41
Conclusion	p. 48
Appendix	p. 50
India: Unleashing Opportunity Creation	p. 51
Introduction	p. 51
Growth creation and slackened employment growth in the Indian economy: an analysis	p. 53
The impact of liberalization on the manufacturing sector in India: trends in productivity, output expansion and employment creation	p. 56
Conclusion	p. 61
A Multisectoral Pattern of Economic Growth: Important Issues	p. 63
The skill development paradigm	p. 69
India's Economic Ascent: Insights and Issues	p. 72
China: The Emerging Superpower	p. 82
China: Its Ascent as an Economic Powerhouse	p. 83
Economic liberalization	p. 86
Conclusion	p. 94
Appendix	p. 95
State-owned Enterprise Restructuring in China: Issues and Challenges	p. 97
The impact of enterprise restructuring	p. 100
The impact of financial-sector reform in China: issues and concerns	p. 108
Conclusion	p. 114
Appendix	p. 115
Economic Reform in China: The Ensuing Phase	p. 116
The underpinnings of China's present growth patterns: sustainability issues and imperatives	p. 118
Poverty reduction in China	p. 122
Conclusion	p. 130
Human Capital Formation: Trends, Implications and Future Prospects in China	p. 131
Health care reform in China: was it an instrument of inequity?	p. 132
The link between human capital formation and technological advancement	p. 134
Conclusion	p. 138
Appendix	p. 139
China's Foreign Direct Investment Story: An Evaluation	p. 141
China's accession to the WTO	p. 141
Broad trends in foreign investment	p. 144
Broad trends in China's trade	p. 146
Evaluating China's FDI-export model	p. 147
Protectionism: its impact on technological upgrading	p. 151
The trickle-down effect of technology transfer	p. 154
Conclusion	p. 158
China's Economic Experience: Insights, Lessons and a Perspective	p. 159
Reinventing neo-liberalism	p. 160
Economic transformation and turnaround: beyond structural adjustment	p. 165
Conclusion	p. 168
fundamental lessons, in a nutshell	p. 169
When Elephants Walk and Dragons Dance: A Comparison between the Indian and Chinese Economies	p. 170
An overview of recent history: India and China	p. 172
Liberalization: the initial stage	p. 173
Liberalization: India and China's variant	p. 178
Present reform imperatives in India and China: a comparison	p. 182
Conclusion	p. 185
Globalization: A Process of Incomplete Economic Integration
Introduction to Part II	p. 190
Globalization: Vision and Reality	p. 191
Economic history: lessons in restrospect	p. 192
Globalization and economic integration: the dichotomy	p. 197
Financial and trade liberalization: an overview of its impact	p. 197
Trade liberalization: is it about free or fettered trade?	p. 201
Conclusion	p. 204
Appendix	p. 205
Revisiting the East Asian Miracle	p. 209
Analysis	p. 211
Comparisons: East Asia and Africa	p. 220
Conclusion	p. 227
The Stilettoization of Economic Progress	p. 231
The political economy of underdevelopment: a macroview	p. 232
Economic integration: altering its partial approach	p. 241
Conclusion	p. 244
Bridging the Gap between Growth and Development: Evolving a Paradigm
Introduction to Part III	p. 248
The Production Function of Development	p. 249
The nature of economic growth	p. 249
The Development Paradigm: Its Evolution and Importance	p. 256
Evolution of the development paradigm	p. 256
The curative: a transition from resource mobilization to resource management	p. 269
Singapore: exemplifying EEM	p. 271
Reform: it cannot cease	p. 272
Appendix	p. 276
Bibliography	p. 277
Index	p. 289
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