A closer look at Chinese and Indian economic development

HUANG Qunhui (黄群慧)
Director, Enterprise Management Research Center, Institute of Industrial Economics, CASS

China and India are both developing countries with large populations and splendid ancient civilizations. Both began their industrialization processes in the 1950s, initially choosing the Soviet model of industrial development that gave priority to heavy industry through state-owned monopoly. Furthermore, China and India both are engaged in market-oriented reforms though began the reform in 1978 and 1991 respectively. Because of these and other factors, China and India share many similarities in economic development and the industrialization process.

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