Dancing with Giants: China, India, and the Global Economy

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9780821367490: Dancing with Giants: China, India, and the Global Economy
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China is now the world's fourth largest economy and growing very fast. India's economic salience is also on the rise. Together these two countries will profoundly influence the pace and nature of global economic change. Drawing upon the latest research, this volume analyzes the influences on the rapid future development of these two countries and examines how their growth is likely to impinge upon other countries. It considers international trade, industrialization, foreign investment and capital flows, and the implications of their broadening environmental footprints. It also discusses how the two countries have tackled poverty, inequality and governance issues and whether progress in these areas will be a key to rapid and stable growth.

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Review:

It is difficult to cover the similarities and differences of two "giants" within the confines of a relatively small book, but this edited work manages to examine an impressive array of issues and concerns. Organized into seven chapters, it covers topics ranging from the impact of Chiness and Indian growth on global markets and industries, to the risk of growing income inequality and the potential for social instability. The text also probes the impact of China and India on international financial markets, including not so subtle hints that exchange rate policies and accumulations of foreign reserves could be potentially desabilizing if mishandled." --CHOICE, Auguest 2007

"This book shows the immense value of World Bank research. Without being simplistic, it makes a complex subject accessible and comprehensible. Its seven chapters, each authored by leading researchers in their fields, offer deep insight into the prospects for Chinese and Indian growth and its likely impact on the world economy. The analysis is thorough, thoughtful, and apt; it brings a welcome dose of clarity to a debate characterized more by rhetoric than by rrealism." --Lawrence H. Summers, Charles W. Eliot University Professor of Harvard University, John F. Kennedy School of Government

The rise of China and India arouses deep concerns about the chances of development for poor countries and the impoverishment of richer ones. Dancing with Giants puts these fears in perspective. With its excellent authors and its disciplined and detailed analysis, it shows that, in some dimensions, these Giants are not so significant, and in others their growth offers at least as many opportunities as threats. There is no book on this critical subject that I would recommend more highly." --Justin Yifu Lin, Founding Director, China Center for Economic Research, Peking University

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