China and India Book

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