India, China and globalization : the emerging superpowers and the future of economic development / Piya Mahtaney.

Format:

Book

Author/Creator:

Mahtaney, Piya.

Language:

English

Subjects (All):

India--Economic policy.

India.

Economic policy.

India--Foreign economic relations.

International economic relations.

China--Economic policy.

China.

China--Foreign economic relations.

Globalization--Economic aspects.

Globalization.

Physical Description:

x, 323 pages ; 23 cm

Place of Publication:

Basingstoke [England] ; New York : Palgrave Macmillan, 2007.

Summary:

Economic growth does not always add up to development. In a world riddled with asymmetries and disparity, the economic achievement of India and China shows a path that, despite all its inherent imperfections, can take poorer nations towards development. The two countries are recent reminders of an invaluable lesson of our times: development does not need perfect systems, but it is the outcome of strategic thinking, smart implementation and efficient governance. As we stand on the threshold of the next wave of globalization it could bring in its wake the next frontier of development. However, there is a fundamental challenge, perhaps the foremost concern of our time. This arises from the glaring need to bridge the gap between growth, globalism and sustainable development. In this context the book presents an exploration that emanates from the empirical evidence which is pertinent to the ascent of India and China and the impact that globalization has had during recent decades.

Contents:

1 The New Age Paradox 1

The new age paradox: inevitability and implications 1

The way ahead 8

Part I The Rising Superpowers: Issues, Implications and the Future

2 India's Story: As it Rolls On 17

3 India: Her Tryst with Globalization 18

The turning point 18

Role of FDI in the Indian economy 24

Liberalization and the dynamics of economic progress 27

4 Economic Reform: Moving Beyond Liberalization 30

Sustainable growth and economic reform 31

The political economy of underdevelopment: its ramifications 32

Infrastructure provision and human capital formation: a story of unaffordable paucity 34

Privatization: an overview of its impact in India 41

5 India: Unleashing Opportunity Creation 51

Growth creation and slackened employment growth in the Indian economy: an analysis 53

The impact of liberalization on the manufacturing sector in India: trends in productivity, output expansion and employment creation 56

6 A Multisectoral Pattern of Economic Growth: Important Issues 63

The skill development paradigm 69

7 India's Economic Ascent: Insights and Issues 72

8 China: The Emerging Superpower 82

9 China: Its Ascent as an Economic Powerhouse 83

Economic liberalization 86

10 State-owned Enterprise Restructuring in China: Issues and Challenges 97

The impact of enterprise restructuring 100

The impact of financial-sector reform in China: issues and concerns 108

11 Economic Reform in China: The Ensuing Phase 116

The underpinnings of China's present growth patterns: sustainability issues and imperatives 118

Poverty reduction in China 122

12 Human Capital Formation: Trends, Implications and Future Prospects in China 131

Health care reform in China: was it an instrument of inequity? 132

The link between human capital formation and technological advancement 134

13 China's Foreign Direct Investment Story: An Evaluation 141

China's accession to the WTO 141

Broad trends in foreign investment 144

Broad trends in China's trade 146

Evaluating China's FDI-export model 147

Protectionism: its impact on technological upgrading 151

The trickle-down effect of technology transfer 154

14 China's Economic Experience: Insights, Lessons and a Perspective 159

Reinventing neo-liberalism 160

Economic transformation and turnaround: beyond structural adjustment 165

Appendix fundamental lessons, in a nutshell 169

15 When Elephants Walk and Dragons Dance: A Comparison between the Indian and Chinese Economies 170

An overview of recent history: India and China 172

Liberalization: the initial stage 173

Liberalization: India and China's variant 178

Present reform imperatives in India and China: a comparison 182

Part II Globalization: A Process of Incomplete Economic Integration

16 Globalization: Vision and Reality 191

Economic history: lessons in restrospect 192

Globalization and economic integration: the dichotomy 197

Financial and trade liberalization: an overview of its impact 197

Trade liberalization: is it about free or fettered trade? 201

17 Revisiting the East Asian Miracle 209

Analysis 211

Comparisons: East Asia and Africa 220

18 The Stilettoization of Economic Progress 231

The political economy of underdevelopment: a macroview 232

Economic integration: altering its partial approach 241

Part III Bridging the Gap between Growth and Development: Evolving a Paradigm

19 The Production Function of Development 249

The nature of economic growth 249

20 The Development Paradigm: Its Evolution and Importance 256

Evolution of the development paradigm 256

The curative: a transition from resource mobilization to resource management 269

Singapore: exemplifying EEM 271

Reform: it cannot cease 272.

Notes:

Includes bibliographical references (pages 277-288) and index.

ISBN:

023050051X

9780230500518

OCLC:

134993240

Online:

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