china and india Economic Performance Update外文电子书籍.PDFVIP

China and India: Economic Performance, Competition and Cooperation An Update * T. N. Srinivasan 1. Introduction China and India had similar development strategies prior to their breaking out of their deliberate insulation from the world economy and the ushering in of market-oriented economic reforms and liberalization. China began reforming its closed, centrally planned, non-market economy in 1978. India always had a large private sector and functioning markets which were subject to rigid state controls until the hesitant and piecemeal reforms of the 1980s. These became systemic and far broader after India experienced a severe macroeconomic crisis in 1991. The political environments under which reforms were initiated and implemented in the two countries and their consequences were very different. India continues to be an open, participatory, multiparty democracy, while China has an authoritarian, one party regime, though it is liberalizing. After recounting the differing rationales as well as the similarities and differences in the content of their reform agenda, I reviewed in Srinivasan (2002) the achievements of reforms and remaining challenges, particularly regarding reforms of state- owned enterprises (SOEs). I concluded with an analysis of the competition between China and *Samuel C. Park, Jr. Professor of Economics, Yale University, New Haven, Connecticut, USA. This paper draws on “China and India: Economic Performance, Competition and Cooperation,” which was originally presented at a seminar on WTO Accession, Policy Reform and Poverty sponsored by the World Trade Organization in Beijing, China in June 2002 and on Srinivasan (2004). I thank Jan Dutta, Frank Hsiao, Richard Hooley, Will Martin and Jessica Wallack for