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Dancing with Giants: China, India, and the Global Economyby L. Alan Winters
Synopses & Reviews
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 timely new book 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.
Book News Annotation:
The predicted growth of the Indian and Chinese economies, with their massive populations, portends important implications for the rest of the world. In this volume, Winters (director, Development Research Group, World Bank) and Yusuf (economic adviser, Development Research Group, World Bank) present seven chapters that explore some of these implications. Two chapters model growth patterns into the future for the Asian "Giants" and analyze the model's outputs regarding flows of goods and services, the structure of production, economic welfare, and energy/emissions scenarios. Other chapters take a less quantitative approach, with authors describing current and foreseeable developments in industrial capability; reviewing the evidence on poverty reduction, inequality, and economic growth; and examining trends in governance and the investment climate. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)
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