The role of India and China is expanding in the global economy. A whole new array of economic and financial issues are emerging which need to be tackled if the current period of growth is to endure. The issues that need attention include how to expand the services sector, especially financial services; how to keep pace with the incredible growth of the manufacturing sector; how to ensure the widest possible diffusion of the huge economic gains seen over the last ten years and how to provide the framework for the development of two-fifths of the human race.

Economic Reforms in India and China: Emerging Issues and Challenges aims at providing the goals, strategies and policies to tackle these issues. It discusses the efforts to address issues like encouraging less successful sectors of the economy that have been complicated by forces of globalization and the ever-changing realities of today's global economy and appraises issues pertaining to economic reforms. The articles explore ways to improve the well-being of the poor, to design effective structures and institutions for poverty reduction and how the reforms, in their economic, political and social dimensions can be used to tackle global developmental issues.

Financial Sector in China: Issues and Challenges

Financial sector in China: Issues and challenges
SurjitSingh

Introduction

The financial sector plays an important role in the mobilization and allocation of savings. Financial institutions, instruments and markets that form the financial sector act as conduit for the transfer of financial resources from net savers to net borrowers. The globalization of the world's financial markets has created a new world environment, full of opportunities, but fraught with dangers and unexpected shocks. Resource flows from developed to developing countries have increased eight-fold in the 1980s, and many developing countries observed high growth (Mathieu, 1998). At the same time, the promises of the new financial environment are clearly not without problems. Since globalization began, more than 80 countries, both developed and developing, have ...

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