Institutional Competition
Show Less

Institutional Competition

Edited by Andreas Bergh and Rolf Höijer

Why is competition between institutions usually viewed in a negative light, when competition is considered positive in most other economic contexts? The contributors to this volume introduce new perspectives on this issue, analytically and empirically exploring reasons for this perception.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 10: Asia’s Giants in the World Economy: China and India

Erich Weede


Erich Weede 10.1 INTRODUCTION For millennia most of mankind has survived close to starvation level. For centuries most of mankind has lived in Asia. Together China and India account for nearly 40 per cent of mankind and about half of the population of less developed countries. Moreover, China and India embody distinct civilizations and almost unite them within a single state.1 During the nineteenth and twentieth centuries, a peninsula and subcontinent attached to Asia, that is, Europe and its North American and Australasian daughter societies overcame mass poverty (Collins 1986; Jones 1981; Landes 1998, 2006; Maddison 2001; North 1990; Weber 1923/1981; Weede 1996, 2000). Soon thereafter Japan joined the West in making economic development its top priority. After World War II, the original four tigers at the edge of East Asia – Singapore, Hong Kong, Taiwan and South Korea – followed. But most of mainland Asia, and therefore most of mankind, remained mired in stagnation and poverty at least until the late 1970s. Certainly until then, and possibly until the end of the second millennium, the gap between developed and less developed countries widened and the global distribution of income became less and less equal (Collier and Dollar 2002; The Economist 2004; Firebaugh 1999; Ravallion 2004; Wolf 2004, chapter 9). Once China and India, however, joined the capitalist market economies, once capitalism became truly global, it became possible to argue that mainland Asia is catching up,2 that global growth is good for the poor (Dollar and Kraay, 2002) and that global...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.