How Will Growth in China and India Affect the World Economy?
China and India are rapidly growing, labor-abundant economies with very different export mixes. China is more integrated into global production sharing for manufactures, while services exports are more important for India. Even assuming India integrates more comprehensively into global production chains, there will be opportunities for rapid growth in both countries. Improvement in the range and quality of their exports can create substantial welfare benefits for the world, and for China and India, and can offset the terms-of-trade losses otherwise associated with rapid export growth. Most countries will need to respond to increased competition in some sectors, and to greater opportunities in others.
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| Main Authors: | , , |
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| Format: | Journal Article biblioteca |
| Language: | EN |
| Published: |
2009
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| Subjects: | Country and Industry Studies of Trade F140, Macroeconomic Analyses of Economic Development O110, International Linkages to Development, Role of International Organizations O190, Measurement of Economic Growth, Aggregate Productivity, Cross-Country Output Convergence O470, Socialist Systems and Transitional Economies: National Income, Product, and Expenditure, Money, Inflation P240, Socialist Institutions and Their Transitions: International Trade, Finance, Investment, and Aid P330, |
| Online Access: | http://hdl.handle.net/10986/5653 |
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