Read e-book online India, China and Globalization: The Emerging Superpowers and PDF

By P. Mahtaney

This ebook explores the expansive financial stories of India and China and charts the highlights of the recent fiscal period of 2 ascending financial superpowers. It discusses the resonance of East and South-East Asian economics and the recent measurement it has supplied to the overseas enviornment. the present co-existence of boundless prosperity and endemic improvement is an very unlikely activity and the writer offers life like suggestions to maintaining those ambitions.

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Additional info for India, China and Globalization: The Emerging Superpowers and the Future of Economic Development

Example text

The antecedents of this problem of demand and supply mismatch can be traced to the prevalence of rather low social-sector expenditures over the last five decades. 73 ∗ Average annual rate of reduction in infant mortality rate. Source: UNDP, Human Development Report (2004). cannot be attributed merely to a scarcity of resources because countries such as Sri Lanka, China, South Korea, Taiwan, Malaysia and Indonesia had, at one time, lower per capita incomes than India; this did not deter them from allocating a higher proportion of their GDP towards the provision of social infrastructure.

Evidently, liberalized markets could not induce an increase in the inflows of investment in regions that lacked a minimally conducive macroeconomic environment and the other prerequisites for it to be considered a relatively India: Her Tryst with Globalization 29 safe bet or a less risky investment proposition by prospective investors. In the Indian context, thus, liberalization has borne benefits for those states that had already achieved certain a level of economic progress. Alternately expressed, states that crossed a threshold of well being could reap the advantages of liberalization.

Over the period 1995–2000 it grew at a rate of over 35 per cent annually and during 2003–4 the value of software and other allied services was US$12 billion. It must be noted that software exports account for a large proportion of industry sales, comprising 80 per cent of industry sales over 2001–2. Employment provided by the software industry stood at 345,000 persons in 2004. India’s software industry is a phenomenal success story, a fact that prompts the question: does it have applicability to other developing countries?

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