Summary of Chindia

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Recommendation

China and India are both vast, dynamic countries. The pace of their progress is furious and they are earmarked to become “the planet’s next economic superpowers.” Many commentators on Asia fall into the trap of a stereotype, as if they are classifying China and India together under one broad title – “Chindia.” However, China and India are starkly different nations, as highlighted in this book edited by Pete Engardio. For readers unfamiliar with either country, this text provides an easy-to-read introduction. It revisits some of the most common facts and fallacies about economic and business life in both states. getAbstract recommends this well-written, well-edited retrospective archive of BusinessWeek articles as an excellent historic source for anyone interested in China and India’s economic emergence during the past several years.

About the Author

Pete Engardio was BusinessWeek magazine’s Asia correspondent for six years and is co-author of Meltdown: Asia’s Boom, Bust and Beyond.

 

Summary

“Chindia” Ascendant

China’s economic growth never ceases to amaze the international press, commentators and politicians. An industry built on hype promotes every new sign of Chinese progress and “China fever” has full-steam-ahead momentum. Meanwhile, the same observers largely ignore India’s emergence, mainly because prospective foreign investors face many impediments to trade, such as restrictions, bureaucratic machinery and unpredictable democracy. Critics also often disregard India because its success is occurring in less visible, less celebrated industries, such as call centers, software and high-tech engineering.

However, both China and India, stereotypically referred to as “Chindia,” are on track to become serious players on the global economic stage. China eclipses Japan in global trade, and its economy is steadily expanding between 9% and 10% annually. India is growing at a slower rate (approximately 6% per annum), but its long-term prospects may be much more encouraging than China’s. At any rate, no major company can afford to ignore these two emerging economic powers. China is the world’s factory floor and India’s high-tech center in Bangalore may be second...


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