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 Eight: China and India: What Do Their Business Firms Have to Say?
China and India: What Do Their Business Firms Have to Say?
China and India are well over a decade into the process of economic reforms. There have been numerous studies charting the progress of the policies initiated in the two countries. Both have had lessons to learn and impart en route this tough economic journey. While the starting points and the routes for this journey have been different for the two countries, they share a common motivation—unleashing of their economic potential. It is therefore being realized that the two countries have a lot to learn from each other. A crucial aspect of this learning is comparative analyses of what their firms and business enterprises have ...