{"title":"Reforms, International Crisis and Growth of Chinese and Indian Economies","authors":"M. Agarwal, Adrita Banerjee","doi":"10.1177/00094455231188543","DOIUrl":null,"url":null,"abstract":"The considerable similarity in the growth paths of the Chinese and Indian economies since their respective reforms has changed after the 2008 crisis. This article tries to understand the trajectories of different parameters of economic growth in the two countries, and how these changed after the crisis. Growth has declined in both the economies, more consistently in China, compared to India. The share of exports in GDP has also declined in both economies. The dependence of the Chinese economy on exports has decreased; however, its dependence on investment has increased. Investment’s share in GDP in China has increased, whereas it has decreased in India. The structure of the manufacturing sector in China has undergone changes, which is not the case for India. The increase in the share of services and decline in the share of manufacturing in China implies that the production structure is becoming less unbalanced. JEL classification: E58, E62, F32, F41","PeriodicalId":44314,"journal":{"name":"China Report","volume":null,"pages":null},"PeriodicalIF":0.5000,"publicationDate":"2023-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"China Report","FirstCategoryId":"1092","ListUrlMain":"https://doi.org/10.1177/00094455231188543","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"AREA STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
The considerable similarity in the growth paths of the Chinese and Indian economies since their respective reforms has changed after the 2008 crisis. This article tries to understand the trajectories of different parameters of economic growth in the two countries, and how these changed after the crisis. Growth has declined in both the economies, more consistently in China, compared to India. The share of exports in GDP has also declined in both economies. The dependence of the Chinese economy on exports has decreased; however, its dependence on investment has increased. Investment’s share in GDP in China has increased, whereas it has decreased in India. The structure of the manufacturing sector in China has undergone changes, which is not the case for India. The increase in the share of services and decline in the share of manufacturing in China implies that the production structure is becoming less unbalanced. JEL classification: E58, E62, F32, F41
期刊介绍：
China Report promotes the free expression and discussion of different ideas, approaches and viewpoints which assist a better understanding of China and its East Asian neighbours. A quarterly journal of the Institute of Chinese Studies, it attempts to provide a fresh approach which goes beyond the strictly utilitarian area studies without becoming antiquarian. Launched in 1964, China Report has, over the years, widened its interests and aims and transformed itself into a scholarly journal that seeks a better understanding of China and its East Asian neighbours - particularly their cultures, their development and their relations with China. It is an indispensable source of information on China, its society and culture.
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