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Recent acceleration of the Indian economic growth rate from 6 to 8 per cent has sparked worldwide speculation that India is about to catch up with China and become another Asian miracle economy. Economic Reform in China and India examines this prospect, reviewing the development strategies pursued by the two countries over the last 50 years in general and exploring recently introduced reform measures in particular.

The culmination of many years of research by specialists in these economies, this book assesses the performance of China and India at both macro and sectoral levels (including economic, social, political and environmental aspects). It illustrates the reasons why China has outperformed India in the past and identifies the obstacles that India will face in its attempts to catch up with China.

Providing solutions for China and India that can be applied to other developing countries, this book will be invaluable for researchers, academics and students focussing on economic development and Asian studies. It will also receive much attention from investors and government analysts interested in the strategic implications of the emergence of the two Asian economic giants.

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CHOICE Review

Economists Chai and Roy have produced a well-written, properly documented study of the comparative development of India and China over the last 50 years, when the countries embarked on development under different economic systems. Using comprehensive statistical data from different sectors and subsectors of their economies, the authors examine the progress the two countries made in different periods and make projections into the future. They address recent, often-made claims that with economic growth of 6 percent to 8 percent, India is about to catch up with China and in the next few years will become another Asian miracle economy. Drawing on statistical data and research by specialists, the authors evaluate the performance of the two countries at the macro and micro levels, explain their differing past economic performance, and comment on India's prospects in trying to catch up with China. The book will be useful to graduate students in Asian studies and economic development. Policy makers in other developing countries can also benefit from this account of the experiences of two major emerging economies under different economic and political systems. ^BSumming Up: Recommended. Graduate, research, and professional collections. J. S. Uppal SUNY at Albany

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Joseph C.H. Chai, formerly Research Consultant, Research Grants Council, Hong Kong, China and Kartik Roy, Professor, Auckland Institute of Studies, New Zealand