Global is at Ion Eg Development

8/3/2019 Global is at Ion Eg Development

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Globalisation and the Emerging Giants-

-China and India-and Development:

Challenges

DR SUMIT ROY*

Visiting Senior Research FellowSchool of International Relations & Strategic Studies [SIRSS]

Jadavpur UniversityKolkata, India

This lecture is based on papers presented at SIRSS, Kolkata ( March 2009), the NordicAfrica Institute and the Gothenberg Book Fair, Sweden (September 2008) and the Open

University Kolkata ( Spring 2008)


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1.Summary

Globalisation is a historical process. Its contemporary phase is marked bycompression of the world economy and a blurring of national borders drivenby new information and communication technology and rapid transportation.This is underscored by a shift from state to non state market led policies to

guide development and the creation of a new space which coexists withthe nation state. A major challenge is the relationship between developingcountries and globalization and its outcome for the national and the worldeconomy. In this context the focus of this lecture is on the nature ofintegration of two major developing nations-China and India-coined theEmerging Giants-into a changing world and its implications for reshaping

international relations. This is underscored by forces to induce structuraltransformation in both nations-liberalisation and economic cooperation.Critical questions are posed on the EG revamping global politicaleconomy.


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2.Focus

The nature of integration of the Emerging Giants-China and India-into a

changing world and its implications for reshaping global political economyand power relationships


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3. Globalization

compressiona borderless world

a new space coexisting with the stateintegration of nations into a changing worldnational sovereignty and globalisingdeveloping nations integrating and its impact on thenational and the world economystabilty of globalization and crises-1929-30 to 2007-8


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4. Globalization, integration and structuralchange

TheTThe process of integration of the EG into the world economy and theunderlying forces driving structural change in both- a comparative study

Integration:

The EG as Global Players

-global political and economic power

-shift in balance of power from developed to developing countriesexemplified by BRIC (Brazil, Russia, China, India)

-shifts in post cold war strategic vision of the EG -global and regionalstrategies

-mounting hold of the EG in the global economy-contribution (%) to GDP,trade and finance


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Structural Change

The historical shift from state to market led forces to boost growth through liberalization andsubsequent measures to bolster the process through economic cooperation

Liberalization

Policies to induce domestic and external liberalization in the context of opening up the economyunder different and shifting political structures

-the Domestic-external economy:

-macro indicators and contribution of key domestic and external sectors to GDP, rates of growth of

GDP, productivity, rates of savings, levels of trade and import tariffs and levels of FDI

- the implementation of market led measures through the key domestic and the external sector


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Economic Cooperation

Bolstering growth through economic cooperation in the frame ofhistorical tensions:

-unresolved territorial disputes and mutual suspicions

- growing rivalries-energy, regional influence, realignment of powerrelationships

- future of a shared vision


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5. Insights

The changing EG-world economy relationship poses manychallenges centred on a rebalancing of regional and global power::

-emerging or sleeping giants

-looking ahead-the EG and developed and developing nations

-sustaining growth in the EG-domestic and external forces

-rethinking national, regional and international development policies

-the Emerging Giants-the vision and the reality


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THANK YOU

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Global is at Ion Eg Development