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1、ChinaandIndia:EconomicPerformance,CompetitionandCooperationAnUpdate*T.N.Srinivasan1.IntroductionChinaandIndiahadsimilardevelopmentstrategiespriortotheirbreakingoutoftheirdeliberateinsulationfromtheworldeconomyandtheusheringinofmarket-orientedeconomicreformsandliber
2、alization.Chinabeganreformingitsclosed,centrallyplanned,non-marketeconomyin1978.Indiaalwayshadalargeprivatesectorandfunctioningmarketswhichweresubjecttorigidstatecontrolsuntilthehesitantandpiecemealreformsofthe1980s.ThesebecamesystemicandfarbroaderafterIndiaexperie
3、ncedaseveremacroeconomiccrisisin1991.Thepoliticalenvironmentsunderwhichreformswereinitiatedandimplementedinthetwocountriesandtheirconsequenceswereverydifferent.Indiacontinuestobeanopen,participatory,multipartydemocracy,whileChinahasanauthoritarian,onepartyregime,th
4、oughitisliberalizing.Afterrecountingthedifferingrationalesaswellasthesimilaritiesanddifferencesinthecontentoftheirreformagenda,IreviewedinSrinivasan(2002)theachievementsofreformsandremainingchallenges,particularlyregardingreformsofstate-ownedenterprises(SOEs).Iconc
5、ludedwithananalysisofthecompetitionbetweenChinaand*SamuelC.Park,Jr.ProfessorofEconomics,YaleUniversity,NewHaven,Connecticut,USA.Thispaperdrawson“ChinaandIndia:EconomicPerformance,CompetitionandCooperation,”whichwasoriginallypresentedataseminaronWTOAccession,PolicyR
6、eformandPovertysponsoredbytheWorldTradeOrganizationinBeijing,ChinainJune2002andonSrinivasan(2004).IthankJanDutta,FrankHsiao,RichardHooley,WillMartinandJessicaWallackfortheirvaluablecomments.1IndiainworldmarketsandthepotentialfortheircooperationintheDohaRoundofmulti
7、lateraltradenegotiationsundertheauspicesoftheWorldTradeOrganization(WTO).ThispaperupdatesSrinivasan(2002).Section2isdevotedtomacroeconomicprospectsandproblems.Section3isconcernedwithexternalsectorissues,inparticular,thespectacularperformanceofChinarelativetoIndiain
8、theircompetitioninworldmarketsaswellastheemergingperceptioninIndiaoftheopportunitiesinthelargeandrapidlygrowingChinesemarkets.Italsonotestheprote
