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A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the trilemma, in an era of widespread globalization. In this paper we review and contrast the trilemma policy choices and trade-offs faced by the two key drivers of global economic growth: China and India. China's trilemma configurations are unique relative to other emerging markets in terms of the predominance of exchange rate stability, and in the failure of the trilemma regression to capture a consistently significant role for financial integration. In contrast, the trilemma configurations of India are in line with choices made by other emerging countries. Over time, India, like other emerging economies, has converged towards a middle ground among the three policy objectives, and has achieved comparable levels of exchange rate stability and financial integration buffered by sizeable international reserves. [ABSTRACT FROM AUTHOR]

Over the past two decades, the consumption of animal products has increased rapidly in China and India, driven by rising income and large populations. Such strong demand for animal products could have substantial impacts on both their own and global food and feed demand and supply. This paper examines the nature of rising demand for animal products in China and India and discusses national and global implications. [ABSTRACT FROM AUTHOR]

This paper attempts, through a comparative analysis, to assess the significance of foreign direct investment to the growth and development of both China and India, from the period following the introduction of economic reform programmes, to the last few years. It suggests that foreign direct investment (FDI) has had a significant positive bearing on the Chinese economy and a considerably more moderate effect on that of India. This discrepancy is attributed, in particular, to the composition and nature of FDI, and the institutional framework within which FDI is received. [ABSTRACT FROM AUTHOR]

The article discusses reports published within the journal, such as one by Jie Zhang and T. Li concerning economic developments in China and India.

This comparison is not restricted to Mumbai and Shanghai but also to Bangalore and Hangzhou, Delhi and Beijing and so on. The Chinese and Indian economies are expected to be the growth engines of the global economy. In this process cities are expected to play an important role, through their transformation into “World Class” cities, a term now doing rounds in the policy circles in Mumbai, to be achieved through massive infrastructure investments made in them. In China, this has been possible because of the decentralized administrative and fiscal system in China. In contrast, in India, the system of urban infrastructure is currently evolving and making a transition from a centralized to a decentralized system. This paper: (i) compares the Chinese and Indian financial systems to explain differences in the quantum of funds available in cities in both countries; (ii) looks at urban responsibility allocations in terms of institutions; and (iii) compares capital investments made by one city each in the two countries, in Beijing (China) and in Mumbai (India). Edited by Xinyu Fan [ABSTRACT FROM AUTHOR]

This paper applies different approaches to modelling sources of economic growth from time series and panel data sets for 10 Asian countries over the period 1970-2010. After being subjected to fragility tests, the cross-country estimates indicate that investment, together with policy variables and openness to trade, explains about 90 per cent of the estimated 3.2 per cent steady-state growth rate for the region. Regional growth policy points to expanding trade, supporting financial development, and maintaining sound investment environments. Although country-specific growth effects vary, the results imply that different estimation methods, combined with fragility tests, can help establish stronger links between growth theory and policy advice. [ABSTRACT FROM AUTHOR]

The oil-rich Arab countries of the Gulf Cooperation Council (GCC) have rapidly expanded their economic relations with Asian countries recently, particularly China and India. The main reason behind this development is that the regions complement each other in several dimensions. China and India are the fastest-growing, oil-consuming nations in the world, while GCC countries have the largest proven deposits of oil and gas. The GCC is interested in China and India as reliable oil customers over the long-run and the latter look at the GCC as reliable suppliers of oil and gas. The two regions are also attracted to each other because both are enjoying strong economic growth and offer many investment opportunities to the other. It is expected that GCC economic relations with China and India will grow stronger in the coming decades and serve as a good example of South-South economic cooperation for other developing countries. [ABSTRACT FROM AUTHOR]

This paper critically evaluates the ways in which Southern development actors, such as India and China, discursively construct the 'aid' element of South-South development cooperation. It draws upon gift theory, something that has previously been confined to analyses of Western foreign aid. Four characteristic features of the symbolic regime of South-South development cooperation are identified: the assertion of a shared 'developing country' identity; expertise in appropriate development; rejection of hierarchical 'donor-recipient' relations; and an insistence on mutual opportunity. All of these set up the positive moral valence of reciprocity, something that stands in contrast to the hegemonic public construction (if not the reality) of Western foreign aid as unreciprocated charity to the less fortunate. The paper then examines what this symbolic regime might seek to 'euphemise' or obscure in the realpolitik of South-South relations, including inattention to the contested sub-national politics of 'development', and the growing differences amongst the G77 nations. The paper is concerned with the ways in which Southern development actors represent a challenge to the dominant aid paradigm, transgressing dominant cultural categories and social hierarchies of who gives and who receives; but it refuses to take claims of South-South solidarity and mutual benefit at face value. It concludes with some brief reflections on the implications of the emerging visibility and power of the Southern development partners for critical 'development' geography. [ABSTRACT FROM AUTHOR]

China and India were relatively unscathed by the global financial and economic crisis: after a brief downturn, stellar economic growth is back on track. New global and regional economic and political orders are also emerging in the post-crisis period with both nations playing a prominent role. There is heightened attention being given to the nature of their development paradigm and related matters such as governance. This paper begins with a brief introduction to the subject. Second, China and India's paradigms for development progress are outlined. Third, the key current and emerging risks and challenges facing these nations are discussed. Fourth, their respective fault lines are exposed. Fifth, some final thoughts are offered on the possible shape of the next development paradigm shift. I conclude by suggesting that the next paradigm shift in China and India will likely successfully tackle some of the unresolved developmental problems that these nations face. [ABSTRACT FROM AUTHOR]

The international role of China has risen steadily for two decades – and has become even more important in the current global recession. The growing supply of labour-intensive manufactured exports from China has been accompanied by a huge expansion in its imports both of raw materials and of skill-intensive manufactured parts and components. This ‘offshoring’ of intermediates production by a large, labour-abundant economy has economic and environmental implications for other developing economies. More recently, the rapid expansion of the Indian economy and trade indicates that it too will soon exert similar effects on global markets. We sketch a model showing how the growth of these developing-country ‘giants’ generates adjustment pressures on other developing economies. We discuss in particular how differences in relative factor endowments of resource-rich economies can produce quite different outcomes in the context of product fragmentation and expanding commodity trade. We also explore the effects on production, trade, environment and prospects for future growth in resource-rich economies, particularly in the context of weak institutions and other market failures. We illustrate these different impacts by considering the cases of Indonesia, Malaysia and Thailand and highlight implications for growth, development and policy. [ABSTRACT FROM AUTHOR]

By exploring the export performances and specialisation patterns of China and India, we assess their trade competitiveness and complementarity vis-à-vis each other as well as with the rest of the world. Our analysis indicates that (a) India faces tough competition from China in the third markets especially in clothing, textiles and leather products; (b) there is a moderate potential for expanding trade between the two countries; (c) China poses a challenge for the East Asian economies, the US, and most European countries especially in medium-technology industries; (d) India appears to be a competitor mainly for its neighbouring South Asian countries; (e) complementarity exists between the imports of China and India, and the exports of the US, some European states and East Asian countries, especially Japan, Korea, Malaysia, Singapore and Thailand, implying opportunities for trade expansion; and finally (f) the export structure of China is changing with the exports of skill-intensive and high-technology products increasing and those of labour-intensive products decreasing gradually. This suggests that challenges created by China in traditional labour-intensive products might reduce in the long run. [ABSTRACT FROM AUTHOR]

The author reflects on the rapid economic growth of some East Asian countries including India and China. The author notes that China has remarkable economic performance, with an annual 7% increase in per capita gross domestic product (GDP) and an almost 12-fold increase in per capita real income, while India has 3.1% increase in per capita GDP for the same period and three-fold increase in its per capita real income. The author also mentions the contributing factors of this growth.

China and India are now emerging as major players in the new international economic order. Their economies are growing at a rapid pace, and increasingly foreign investors are flocking to these countries to capitalize on the emerging opportunities. Although economic and social transformation is under way in these societies, this transformation is occurring within a backdrop of an institutional context that is rather different from what is present in Western societies. We draw upon an institutional theory framework to compare and contrast China and India along the dimensions of the regulatory, normative, and the cognitive dimensions. The regulatory dimension refers to the restrictions or lack thereof that might impact foreign investors and/or the manner in which they are implemented. Normative dimension refers to the dominant cultural norms and values present in a given society, while cognitive dimension pertains to the acceptance or the lack thereof of foreign investment. These dimensions are then posited to impact on the negotiating processes that are characteristic of that society. We compare and contrast the negotiating practices in China with that of India and outline strategies through which foreign investors may manage the negotiating process in these countries more effectively. © 2014 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

Africa's external relations are currently undergoing major changes. Non-traditional state actors like China and India are reviving their ties with African economies and thereby affecting power relations between African states and traditional partners. Meanwhile, high commodity prices and improved credit ratings make external finance available for African governments. This article examines how non-traditional state actors affect the possibility of African governments setting and funding their own development priorities. It argues that while the current situation may increase the policy autonomy for African economies this is largely a consequence of the increased availability of external finance - and not just from non-traditional state actors. [ABSTRACT FROM AUTHOR]

The rise of ASEAN, China and India as economic powers is of great significance to regional as well as global economic development. Although their ascendance in the global economy will continue, they will have to go to great pains to meet the new challenges. Considering ASEAN, China and India as a group, due to their differences in economic development levels, economic structures and policy concern priorities, it is difficult for them to formulate a unified position on a range of global issues. ASEAN, China and India must foster an open, transparent and efficient regional as well as global environment. They need to cooperate in designing the architecture to ensure regional as well as global freer trade and investment and more stable finance, and to play more active roles in future global governance and rulemaking. [ABSTRACT FROM AUTHOR]

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The segmentation of global manufacturing and services provided China and subsequently India with a golden opportunity to make full use of their absolute advantage – low-cost, yet educated labour – to integrate into the world economy within a comparatively shorter period of time than some earlier industrialisers. Though international trade functioned as a vent of surplus in view of the narrowness of their domestic markets at the beginning of their economic catch-up, the label of export-led model may not reflect the real picture as imports underwent dramatic increases during their respective growth periods, in particular for China. Foreign direct investment has played a pivotal role in their economic growth and has major presence in international trade and investment in leading sectors of both countries, giving rise to certain special features and weak links for their economic expansion and sustainability of fast economic growth. To maintain more broad-based, fast and balanced growth, it seems that both countries have to redress sectoral imbalances, encourage technology upgrading and cope with future changes in demographic profiles which constituted a trigger to fast economic growth at the time of their respective economic reform. [ABSTRACT FROM AUTHOR]

Early states like China and India have been experiencing more rapid economic growth in recent decades. We show that more rapid growth by early starters has been the norm in economic history, and that the “reversal of fortune” associated with the European overseas expansion was both exceptional and temporary. Not only was the post-1500 reversal in the process of being reversed after 1960, but also the advantage conferred by early development in the latter period was considerably greater than the growth rate disadvantage that it conferred during 1500–1960, implying a rapid undoing of the first reversal. [ABSTRACT FROM AUTHOR]

The article reports on the rise of foreign direct investments (FDI) in Africa over the last 12 months. The inflows reached $38.8 billion in 2006, which is record-breaking 26.5 percent rise. According to the author, there are diverse key sources of inflows and a rise in the investments led by China, India, the Republic of Korea, Taiwan, and Malaysia. The challenge of Africa is to seize this opportunity to help promote domestic productive capacities to allow for a long-term wider economic and human development.