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The World Under PressureHow China and India Are Influencing the Global Economy and Environment$
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Carl Dahlman

Print publication date: 2011

Print ISBN-13: 9780804777131

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804777131.001.0001

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Understanding the Rapid Rise of China and India

Understanding the Rapid Rise of China and India

Chapter:
(p.45) Chapter 3 Understanding the Rapid Rise of China and India
Source:
The World Under Pressure
Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804777131.003.0003

This chapter examines the economic rise of China and India and the reasons for their rapid economic growth. It first provides some basic comparative data on China, India, and the United States before assessing some of the similarities in their history. It then considers the aggregate growth of China and India by focusing on the economist's basic production function. It shows that quick labor force and capital growth are partly responsible for their rapid growth and the differences in their growth rate. The chapter also looks at differences in forms of government and development strategies between the two countries and shows that such differences account for differences in performance in growth and welfare, industrial structure, and educational strategies. China and India have also differed in the way they have tapped global knowledge through trade, technology licensing, foreign education, foreign direct investment, and copying and reverse engineering. The chapter concludes by contending that the success of both China and India is related to their transition toward the market and their inclusion into the international economic system.

Keywords:   United States, labor force, capital growth, welfare, industrial structure, foreign direct investment, technology licensing

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