The Dynamic Economies of India and China: What Lessons for Others?
13 Nov - 18 Nov, 2007
- Asia Editor, The Economist, London
- Chairperson, Indian Council for Research on International Economic Relations, New Delhi
- Professor of Strategic Studies, Center for Policy Research, New Delhi
- Director, National Economic Research Institute, China Reform Foundation, Beijing; Professor of Economics, Peking University and Chinese Academy of Social Sciences
- Dean, Asian Development Bank Institute, Tokyo
- Global Head of Emerging Market Research, HSBC, London
- Founder and former Co-CEO, Office Tiger LLC, Chennai
India and China are phenomenal stories of dynamic growth. With their abundant supplies of low-cost labor, wealth of natural resources, and highly educated elite, India and China have not only experienced rapid economic success over the last decade, but are emerging as two of the world's most powerful economies. Interestingly, India and China have managed this growth by relying on drastically different economic models and development strategies. While India has attracted private business, huge investments in information technology, and a growing knowledge-based service industry, China has relied on pricing power, a massive manufacturing sector, a flourishing export industry, foreign direct investment, and enormous gains in currency reserves. In so doing, India and China's economic dynamism has rejuvenated other Asian economies as well, most notably the ASEAN states, spurring their integration into the global market and making Asia the fastest growing region in the world.
Despite this success, however, India and China face significant future challenges. Environmental concerns, shortages of skilled labor and industry-specific talent, the ability of education systems to meet the demands of an ever increasing workforce, the needs of rural populations, and the realities of geopolitical competition are all raising questions about the sustainability of such rapid growth. By examining India and China's different paths to global economic power as well as the potential sustainability challenges facing both countries in the future, this session will seek to gain practical lessons for other emerging economies. Russia and Brazil are frequently grouped with India and China, but to what extent do these lessons apply? What lessons can be learned for other emerging markets, specifically the ASEAN countries, the major oil exporting states, Egypt, Mexico, Nigeria, Pakistan, and Indonesia? And, do the experiences of India and China offer lessons to be learned for more mature economies like those of South Korea and Singapore? Session participants, including representatives from banks, investment firms, government ministries, economic policy centers, NGOs, and academia, will examine both the positive and negative impacts of India and China's rise to economic power and seek to identify new strategies for sustainable economic growth.
The fee for this session is 3,000 EURO. The fee covers the cost of the program, accommodations, and meals.
Limited scholarship funding may be available for those who are unable to pay the full fee (i.e. from developing countries or NGOs). Participants seeking scholarship assistance must submit an application for financial aid to our admissions office.