Who will be Asia’s Economic Superpower in the 21st Century
For 25 years, China has grown faster than any major country in the world. But last year, India’s growth rate caught up to China’s, and last year India’s stock market did much better than China’s.
China is the world’s last big communist country. India is the world’s biggest democracy. This lecture argues that China’s enduring communism has sown seeds of economic malaise, notably prolonged life-support for loss-making state owned enterprises, engineered via massive loans from a banking system that is now technically bankrupt.
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James W. Dean is Professor of Economics and International Finance at Simon Fraser University, Canada. He holds a Ph.D. degree in Economics from HarvardUniversity and specializes in international macroeconomics and finance, as well as developing and transition economies. He has published numerous scholarly works, including Has the Market Solved the Sovereign Crisis (Princeton Studies in International Finance, 1997) and The Dollarization Debate (Oxford University Press, 2003). Recently he has turned his attention to the Chinese transition process and to comparative studies of India and China. Professor Dean has held visiting appointments in major universities and business schools in Asia, Europe and the US and has consulted to numerous international organizations |