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Financial Architecture and Economic Development in China and India

Financial Architecture and Economic Development in China and India ; A Comparative Perspective

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4.85
98,586 ratings · 9,921 reviews
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Financial Architecture and Economic Development in China and India

Financial Architecture and Economic Development in China and India ; A Comparative Perspective

4.85 98,586 ratings · 9,921 reviews
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Overview: The author argues that as India faces the new century, the Indian economy stands at cross roads. Either it can take the business as usual road which means continued poverty and a low growth trap or, take the high road to achieve prosperity, global prominence and a more egalitarian society through accelerated reforms and by energizing the national innovation system. In this regard, the author suggests that the Chinese challenge is formidable. However, what stands between China and further accelerated growth is financial sector reforms, and the Chinese Communist Partys unwillingness to relinquish control over the levers of financial system. Thus, a wide-ranging financial sector reform is essential for the sustainability of Chinese growth performance to correct the incongruities noted above. The author concludes that the Chinese economy nevertheless enjoys substantial advantages over India, particularly in the manufacturing sector. China is able to be a recipient of much more FDI to modernize its manufacturing sector than India because its policies are so designed that there is significantly less transaction costs, much lower real rates of interest (4 per cent versus 11 per cent in India), better infrastructure especially connecting the SEZs, and greater labour market flexibility. The author suggests that India, relative to China, faces ten major competitive disadvantages in the major area of growth which could block her from closing the gap in the first two decades of the 21st century. In fact, the author is of the view that the wide gap between India and China in per capita incomes (which gap was about zero in 1980) was only, in part, due to a lower population growth in China, and much more due to a greater investment effort in China. India cannot close this per capita income gap by 2020, without a faster GDP growth rate (e.g., 10 per cent per year) for which an even greater effort to raise the level of investment will have to be made. This is easier said than done because it would require India to implement a major push for second generation reforms. India is poised better for second generation of reforms, given of course the political will. If indeed India adopts new reforms and removes the main barriers to growth, it is then within Indias reach to close the gap with China and come on par by 2020.

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Book details & editions

ISBN
4282904
Publisher
Konark
Publication date
N/A
Language
Eng
Pages
328 pages
Reading Options
PDF · EPUB · Mobi
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Subramanian Swamy
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Subramanian Swamy is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Subramanian Swamy can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
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I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
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Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
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Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
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Cynthia Wilson
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Deborah Mitchell
Deborah Mitchell July 11, 2025
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
Gary Allen
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Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
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A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
Sandra Clark
Sandra Clark October 06, 2024
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Dorothy Johnson
Dorothy Johnson July 01, 2025
A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Richard Lopez
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A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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Barbara Perez
Barbara Perez September 22, 2025
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
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Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
Steven Hernandez
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Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
Lisa Miller
Lisa Miller October 03, 2024
Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Anthony Hernandez
Anthony Hernandez August 07, 2024
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author.
Paul Wright
Paul Wright February 26, 2024
I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall.
Margaret Collins
Margaret Collins May 31, 2025
A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Linda Collins
Linda Collins May 12, 2024
Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
Mary Garcia
Mary Garcia July 16, 2024
Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Robert Harris
Robert Harris May 10, 2024
Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Melissa Wright
Melissa Wright July 26, 2024
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
Mary Turner
Mary Turner February 11, 2024
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.