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India-China economic relations

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Title: China-India Trade Relations: New Opportunities for Cooperation
Date of publication: June 2008
Description/subject: Abstract: "This paper brings home the message that there is massive untapped potential for broader economic cooperation between China and India specifically in trade in manufactures. First, both China and India have diversified trade structures particularly from the export perspective in the global and bilateral contexts. Second, the low intra-industry trade (IIT) (and vertical intra-industry trade, VIIT) shares in China-India bilateral trade which stand in sharp contrast with the existing high IIT (and VIIT) levels in each country’s trade with the rest of the world (ROW), indicate that both countries possess the pre-requisites to follow similar patterns in trade with each other. Third the contrasting differences in quality of products traded in China-India bilateral trade also reveal that competition in the manufacturing sector is limited. The dissimilar strengths (or comparative advantages) of China and India in the form of product composition/ concentration and product variety (quality) examined from their interactions with the ROW and with each other reflect the complementary strengths of the ‘titans.’ These differences, if further exploited, give rise to complementary trade that is mutually beneficial."
Author/creator: Evelyn Devadason
Language: English
Source/publisher: Institute of China Studies University of Malaya - ICS Working Paper No. 2008-14
Format/size: pdf (569K)
Date of entry/update: 25 March 2010

Title: Integration of China and India in Global Merchandise Trade: The Performance of the Dragon vis-à-vis the Elephant
Date of publication: April 2008
Description/subject: "The emergence of China and India in the global economy cannot be ignored, given their rapid integration into world markets. The share of both economies in global gross domestic product (GDP) more than doubled to 7 per cent and China now ranks sixth whilst India tenth in GDP terms. In trade, China is currently the third largest trading economy in the world, surpassing Japan, while India ranks twenty-fifth. The manufacturing exports of both countries increased by approximately 15 per cent over the last decade (Lederman et al., 2007), with China and India accounting for approximately 8 per cent and 1 per cent of world merchandise exports respectively (The Star, October 16, 2007). Obviously, China’s impact on global trade flows is already evident whilst India’s merchandise trade still lags behind that of the former (UNCTAD, 2005; Srinivasan, 2006). However, both economies are said to have a much larger impact on the composition of world trade than Japan and the Republic of Korea during their economic nascent. A recent survey of 340 mainly Fortune 500 global manufacturing companies indicates that manufacturing will become the main activity of interest to be offshored to India (The Star, October 16, 2007). Manufacturing outsourcing to India is poised to surpass the country’s flagship in activities of information technology (IT) and business process outsourcing. It is deemed that ‘Made in India’ or rather ‘Made by India’1 label will be the next success story. The integration of China and India with the rest of the world in merchandise trade can be identified from both the generation of export supply and import demand. The study focuses on the Giants’ trade interaction with the rest of the world via shifts in product composition and changes in product quality. Further, the differences that prevail in both economies that shape their integration into world markets and the significance of India emerging as a global player are also discussed..."
Author/creator: Evelyn Devadason
Language: English
Source/publisher: Institute of China Studies University of Malaya - ICS Working Paper No. 2008-8
Format/size: pdf (770K)
Date of entry/update: 25 March 2010