Book Description

Since the early 2000s, India's economic performance has been celebrated and disparaged by different sections of the international policy community. The exuberance of India's own economic managers and business elites culminated in the dramatic failure of the 'India shining' election campaign in 2004. Against such a backdrop, it became imperative to examine India's true position in the world economy and specifically its relative performance vis-¿is China, the default benchmark for contemporary economic success. Chasing the Dragon: Will India Catch Up with China?addresses one of the most relevant questions of contemporary times-whether Asia's two giant economies will reclaim their historical position in the international political economy-and in India's case, critically examines its prospects for overcoming its disparity with its northern neighbour. Using empirical data compiled from diverse sources, it evaluates the legacies of the two professedly socialist yet very different systems in terms of human development and economic infrastructure. This book offers an extensive survey of the first decades after reforms in India and China, along with the economic changes in the post-reforms period as a whole, and the nature of the lead opened up by China. The role of investments made by overseas actors, the competition for natural resources, and the export markets that are bound to emerge soon between India and China are all explored and their implications discussed. The authors evaluate the prospects of India catching up with China, and indicate how this might be accomplished. Rich in analysis and debate, this book will be invaluable to students of international business, economics, international relations, the media, business houses, policy makers, and ministries of finance and external affairs.