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 Seventeen: Emerging Challenges in Pension Policy: Perspectives from China and India
Emerging Challenges in Pension Policy: Perspectives from China and India
Providing economic security to the older generation has become a policy challenge globally. In most countries, the trigger to the pension dilemma was provided by the changes in demographic structure and the realization that the existing pay-as-you-go type of pension systems are generally, financially unsustainable. Being the top two populous countries in the world, China and India are significantly exposed to this challenge. The reform of the existing pension framework has been high on the agenda of the policy-makers in both countries. The reforms of the pensions systems in these two countries are guided by the need to reduce strain on government budgets, spread awareness regarding ...