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Emergence of China and India in the New Millennium : Will it Facilitate Market Access for LDCs and Developing Countries?

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  • S. K. Mohanty

    (RIS)

  • Sachin Chaturvedi

Abstract

China and India have emerged as highly dynamic economies in recent years. In the Asian region their growth and economic expansion has generated its own complementarities. The paper has empirically shown that surge in the exports of these two countries have significantly contributed to their overall economic growth. Towards this end, both the countries have relied on LDCs and developing countries for their imports and on markets of industrialised economies for exports. The import dependence of India and China is mostly on the industrial intermediate sector, which is critical for their exports. It is advantageous for LDCs and developing countries to closely tie up with these growing economies to get in to their fast expanding markets, but the process is not automatic. Developing countries, particularly LDCs, have to adopt long term strategies to concretise their economic relationship with these two countries to secure persistent market access. Supply and technology constraints in LDCs and other countries may be addressed explicitly, and relevance of these two countries as suppliers of FDI and technology is examined. India and China have made steady progress in frontier technologies such as ICT and biotechnology, and they may provide easy access to these technologies to LDCs and other developing countries.

Suggested Citation

  • S. K. Mohanty & Sachin Chaturvedi, 2005. "Emergence of China and India in the New Millennium : Will it Facilitate Market Access for LDCs and Developing Countries?," Trade Working Papers 22120, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:tradew:22120
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    References listed on IDEAS

    as
    1. Nagesh Kumar & K.J. Joseph, 2006. "National Innovation Systems and India’s IT Capability: Are There Any Lessons for ASEAN Newcomers?," Chapters, in: Bengt-Åke Lundvall & Patarapong Intarakumnerd & Jan Vang (ed.), Asia’s Innovation Systems in Transition, chapter 10, Edward Elgar Publishing.
    2. Pradhan, Jaya Prakash, 2003. "Rise of service sector outward foreign direct investment from Indian economy: trends, patterns, and determinants," MPRA Paper 17078, University Library of Munich, Germany.
    3. repec:wbk:wbpubs:12425 is not listed on IDEAS
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    5. K.J. Joseph, 2005. "Strategic Approach to Strengthening the International Competitiveness in Knowledge Based Industries : Electronics Industry," Microeconomics Working Papers 22102, East Asian Bureau of Economic Research.
    6. World Bank, 2005. "World Development Indicators 2005," World Bank Publications - Books, The World Bank Group, number 12426.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economic growth; India; China; export; LDC; biotechnology; ICT;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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