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The Dragon and the Elephant: Understanding the Development of Innovation Capacity in China and India
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The return of the once-dormant economies of China and India to dynamism and growth is one of the most remarkable stories in recent history. The two countries are home to nearly 40 percent of the world’s population, but until recently neither had played an influential role in the contemporary global economy. Just a few decades ago, for example, Americans associated the words “Made in China” with simple, cheaply made manufactured goods of questionable quality and identified “Made in India” with little but crafts and colorful textiles. In the past two decades, China and India have liberalized internal economic policy, treatment of foreign investment, and trade, and have experienced economic growth at sustained high rates. China’s gross domestic product has been growing at an annual rate near 10 percent for more than two decades, and now ranks as having the fourth largest output in the world, according to the Organisation for Economic Co- operation and Development (OECD).1 China has become a major exporter of manufactured goods, including high-technology items, and a destination of first or second choice for foreign investment. The Chinese population has seen a steady increase in average income, and there has been a sharp drop in poverty rates.
978-0-309-15160-3
NONE
Management
English
2010
1-79
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