This volume is a timely addition to the emerging literature on the rise of China and India, focusing on how rapid economic growth and geopolitical changes in these countries are reshaping the world economy and global governance. It covers issues such as productivity, labor market, trade competition, and energy.

In this lucid, informative, and insightful book, a leading expert on the subject decodes the complex history of India-China relations and argues that the path ahead is a difficult one that could see more military confrontations, including violent border clashes.

For the last decade, China and India have grown at an amazing rate—particularly considering the greatest downturn in the U.S. and Europe since the Great Depression. As a result, both countries are forecast to have larger economies than the U.S. or EU in the years ahead. Still, in the last year, signs of a slowdown have hit these two giants. Which way will these giants go? And how will that affect the global economy? Any Western corporation, investor, or entrepreneur serious about competing internationally must understand what makes them tick. Unfortunately, many in the West still look at the two Asian giants as monoliths, closely controlled mainly by their national governments. Inside Out, India and China makes clear how and why this notion is outdated. William Antholis—a former White House and State Department official, and the managing director at Brookings—spent five months in India and China, travelling to over 20 states and provinces in both countries. He explored the enormously diversity in business, governance, and culture of these nations, temporarily relocating his entire family to Asia. His travels, research, and interviews with key stakeholders make the unmistakable point that these nations are not the immobile, centrally directed economies and structures of the past. More and more, key policy decisions in India and China are formulated and implemented by local governments—states, provinces, and fast-growing cities. Both economies have promoted entrepreneurship, both by private sector and also local government officials. Some strategies work. Others are fatally flawed. Antholis’s detailed narratives of local innovation in governance and business—as well as local failures—prove the point that simply maintaining a presence in Beijing and New Delhi – or even Shanghai and Mumbai —is not enough to ensure success in China or India, just as one cannot expect to succeed in America simply by setting up in Washington or New York. Each nation is as large, vibrant, innovative, diverse, and increasingly decentralized as are the United States, Europe and all of Latin America … combined. China and India each have their own agricultural heartlands, high-tech corridors, resource-rich areas, and powerhouse manufacturing regions. They also have major economic, social, environmental challenges facing them. But few people outside these countries can name those places, or have a mental map of how the local parts of these countries are shaping their global futures. Organizations, businesses, and other governments that do not recognize and plan for this evolution may miss that the most important changes in these emerging giants are coming from the inside out. “This book is for people who wonder about the inside of China and India, and how different local perspectives inside those countries shape actions outside their borders. Though my family and I spent five months traveling in both countries to do research, this book is not a travelogue. Rather, it is an attempt to sketch how a few of China’s and India’s many component parts are being shaped by global forces—and in turn are shaping those forces—and what that means for Americans and Europeans conducting diplomacy and doing business there.”—from the Introduction

Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist. Back to basics - The multi-dimensional role of banks in our financial systems.

Taking a long view of the three-party relationship, and its future prospects In this Asian century, scholars, officials and journalists are increasingly focused on the fate of the rivalry between China and India. They see the U.S. relationships with the two Asian giants as now intertwined, after having followed separate paths during the Cold War. In Fateful Triangle, Tanvi Madan argues that China's influence on the U.S.-India relationship is neither a recent nor a momentary phenomenon. Drawing on documents from India and the United States, she shows that American and Indian perceptions of and policy toward China significantly shaped U.S.-India relations in three crucial decades, from 1949 to 1979. Fateful Triangle updates our understanding of the diplomatic history of U.S.-India relations, highlighting China's central role in it, reassesses the origins and practice of Indian foreign policy and nonalignment, and provides historical context for the interactions between the three countries. Madan's assessment of this formative period in the triangular relationship is of more than historic interest. A key question today is whether the United States and India can, or should develop ever-closer ties as a way of countering China's desire to be the dominant power in the broader Asian region. Fateful Triangle argues that history shows such a partnership is neither inevitable nor impossible. A desire to offset China brought the two countries closer together in the past, and could do so again. A look to history, however, also shows that shared perceptions of an external threat from China are necessary, but insufficient, to bring India and the United States into a close and sustained alignment: that requires agreement on the nature and urgency of the threat, as well as how to approach the threat strategically, economically, and ideologically. With its long view, Fateful Triangle offers insights for both present and future policymakers as they tackle a fateful, and evolving, triangle that has regional and global implications.

In recent years has become increasingly clear that both China and India are competing with the US for technological supremacy as well as market share. Preeg, whose credits include senior positions in finance and development in the US government as well as academic posts, gives policy makers in the private and public sectors fair warning as he analyzes the rise of science and technology in China and India, their development in trade and export competitiveness, the rise of Indian and Chinese multinational companies and their technological innovations, and the geopolitical and geostrategic dimensions of their move into technology. He also describes the response of the US, including recent international financial, trade and investment policy, domestic economic policy responses to international competition, and the future of the role of America as leader in what has become a triangular form of leadership.

China and India are home to one-third of the world's population. And they're undergoing social and economic revolutions that are capturing the best minds--and money--of Western business. In Billions of Entrepreneurs, Tarun Khanna examines the entrepreneurial forces driving China's and India's trajectories of development. He shows where these trajectories overlap and complement one another--and where they diverge and compete. He also reveals how Western companies can participate in this development. Through intriguing comparisons, the author probes important differences between China and India in areas such as information and transparency, the roles of capital markets and talent, public and private property rights, social constraints on market forces, attitudes toward expatriates abroad and foreigners at home, entrepreneurial and corporate opportunities, and the importance of urban and rural communities. He explains how these differences will influence China's and India's future development, what the two countries can learn from each other, and how they will ultimately reshape business, politics, and society in the world around them. Engaging and incisive, this book is a critical resource for anyone working in China or India or planning to do business in these two countries.