November 20, 2010
The China and India We Don't See
Pranab Bardhan, Project Syndicate
Expansion of exports of labor-intensive manufactures has nonetheless lifted many Chinese out of poverty. That is not true of India, where exports are still mainly skill- and capital-intensive. Economic reform clearly has made the Indian corporate sector more vibrant and competitive, but most of the Indian economy is not in the corporate sector (public or private). Indeed, 92% of the labor force is employed in the informal sector.
TAGGED: India, China