Industrialization Of China And India

This book provides new perspectives on recent Asian dynamism which go beyond the mainstream views, by attempting to situate the recent economic expansion within a broader analysis of capitalist accumulation and the various processes that it generates both within and across economies. The contributions in the book include analyses of recent growth patterns in both China and India; assessments of the sustainability of such growth and potential constraints and pitfalls; the role of international finance in affecting both national and international growth and employment patterns; the factors determining particular accumulation strategies and the results of these strategies. These forces within the two economies of China and India are situated within a broader assessment of the impacts on the world economy, by identifying long run tendencies in international capitalism and changing patterns of uneven development. Specific issues emerging within the Asian region are identified, including not just the relations between the three large Asian economies, but also the wider geopolitical implications as well as the political economy of these changes. This book therefore provides a more comprehensive examination of the longer run dynamics of the global capitalist system in which these economies are necessarily destined to play more significant roles in future.

The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

This volume is a timely addition to the emerging literature on the rise of China and India, focusing on how rapid economic growth and geopolitical changes in these countries are reshaping the world economy and global governance. It covers issues such as productivity, labor market, trade competition, and energy.

First Published in 2013. Routledge is an imprint of Taylor & Francis, an informa company.

A history of capitalism in nineteenth‑ and twentieth‑century China and India that explores the competition between their tea industries “Tea War is not only a detailed comparative history of the transformation of tea production in the 19th and early 20th centuries, but it also intervenes in larger debates about the nature of capitalism, global modernity, and global history.”— Alexander F. Day, Occidental College Tea remains the world’s most popular commercial drink today, and at the turn of the twentieth century, it represented the largest export industry of both China and colonial India. In analyzing the global competition between Chinese and Indian tea, Andrew B. Liu challenges past economic histories premised on the technical “divergence” between the West and the Rest, arguing instead that seemingly traditional technologies and practices were central to modern capital accumulation across Asia. He shows how competitive pressures compelled Chinese merchants to adopt abstract industrial conceptions of time, while colonial planters in India pushed for labor indenture laws to support factory-style tea plantations. Characterizations of China and India as premodern backwaters, he explains, were themselves the historical result of new notions of political economy adopted by Chinese and Indian nationalists, who discovered that these abstract ideas corresponded to concrete social changes in their local surroundings. Together, these stories point toward a more flexible and globally oriented conceptualization of the history of capitalism in China and India.

For some twenty-five years after 1949, China did not exist and the country was only rediscovered in the 1970s. As China looks set to soar in the new millennium, there is an urgency to understand the world's most populous economy with a billion plus people. This book aims to shed light on the country's rapid industrialization and internationalization by looking at questions such as: Can China sustain its accelerated rate of growth? Can labor supply be sustained at a relatively low wage rate? Can inflow of foreign direct investment be sustained at a high rate, given the consequent exposure to inflation? Will China's domestic market absorb its own output as the limit on the ability to export manufactures to overseas markets is reached? Is China's currency undervalued? Given China's foreign exchange reserves, should the country have a freely convertible currency?

Small-scale industries in rural areas in China are today an essential element of regional development programs. This monograph analyzes two main development strategies: technology choices in a number of industrial sectors and the integrated rural development strategy.

The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.

Industrialization supported by industrial hubs has been widely associated with structural transformation and catch-up. But while the direct economic benefits of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization, production and technological capability, and innovation. The Oxford Handbook of Industrial Hubs and Economic Development adopts an interdisciplinary approach to examine the conceptual underpinnings, review empirical evidence of regions and economies, and extract pertinent lessons for policy reasearchers and practitioners on the key drivers of success and failure for industrial hubs. This Handbook illustrates the diverse and complex nature of industrial hubs and shows how they promote industrialization, economic structural transformation, and technological catch-up. It explores the implications of emerging issues and trends such as environmental protection and sustainability, technological advancement, shifts in the global economy, and urbanization.

A Great Burst Of Globalization brought the 20th century to a close, creating upheaval in the world economy from roughly 1995 to 2008. And now, with the new century barely commenced, a second upheaval is in the offing following the severe financial crisis that plunged the global economy into recession in 2008-09. The first upheaval witnessed a massive migration of manufacturing and certain business services that transformed Asia into the industrial heartland of the world. The second upheaval will likely consolidate Asia's industrial preeminence and could result in a concentraion of industrial activities in the two most populous and fastest-growing Asian economies---China and India. As the two Asian giants become the industrial equals of the United States, Germany, and Japan, the ramifications will affect trade and growth worldwide, the future of development in China and India, and industrialization throughout Asia. Changing the Industrial Geography in Asia: The Impact of China and India examines these developments, focusing specifically on China and India. Its analysis and conclusions will be of particular interest to policy makers and academics, as well as anyone with an interest in how China and India are likely to reshape industry throughout Asia. "Changing the Industrial Geography inAsia is rich in detailed analysis of the continuing transformation of the manufacturing sector in Asia, both in terms of its moving geography and its composition. For those intrested in understanding the prospects of post-financial crisis Asia, this book is a must read. It is a refreshing return to economic fundamentals, including the new problems of climate change and dwindling energy resources, and will remain the leading reference on Asian transformaton for a long time to come." "The authors consolidate a remarkable amount of data and analysis on the on the industrial structure of Asia and its emergence as theindustrial center of the global economy."