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.
Chapter Thirteen: Impact of China's Access to WTO on FDI in Wuxi
Impact of China's Access to WTO on FDI in Wuxi
China's WTO accession and deeper integration into the world economy presents important opportunities and challenges. China's role in the region is unrivalled. First, its economy is large and second it has rapidly expanded its trade, almost tripling its share of global exports and more than doubling its share of global imports during the period 1990–2005. Third, though its capital account is not fully convertible, China is important both as an investment destination and as a lender in global capital markets. It is the world's largest host country for foreign direct investment (FDI) and the largest capital supplier among developing countries. Looking ahead, China will ...