This volume scrutinizes the phenomenal rise of India and China and the economic achievements of these two giants in the last quarter of the past century. It explores the challenges that the two countries must overcome at a time of global reconfiguration and change through a comparative analysis of their growth experiences.
The recent economic rise of China and India has attracted a great deal of attention. Yet, many of the views regarding this phenomenon have been tendentious, exaggerated, or oversimplified. Awakening Giants, Feet of Clay scrutinizes and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter century. While Bardhan examines and compares major policy changes, political and economic structures, and current general performance, he points to accountability failures as marring the development process in both countries.
In a new afterword, the author reflects on the recent economic and socio-political concerns of the two economies and on the nature of capitalism in both countries.