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 Fifteen: Impact of Reforms on Agricultural Trade in India and China
Impact of Reforms on Agricultural Trade in India and China
India and China, apart from the border, share many common features as well as problems such as cheap labour, scarce land and water resources and demographic pressures. Both had started strategic planning for economic development in the early-1950s focusing mainly on heavy industries and agriculture. The agriculture sector plays an important role in both the countries in terms of food production and employment generation. During the past 50 years the share of agriculture to the GDP in both the countries has come down to less than 30 per cent, though, it has provided employment for more than 50 per cent of the work force. Economic reforms ...