Walden Bello. Catch Up. Deepak Nayyar. Growing Apart. Peter Lewis. The Rise of China and India in Africa. Fantu Cheru. China, the United States, and Global Order. Rosemary Foot. Losing Control? Saskia Sassen. Global Turning Points. Professor Mauro F. Globalization for Development. Ian Goldin. Aid and Influence. Stephen Browne. The China Boom. Ho-fung Hung. Looting Africa. Patrick Bond. Industrialization and Development in the Third World. Rajesh Chandra. Global Political Economy.
Theodore H. Conflict and Housing, Land and Property Rights. Scott Leckie. The Fate of Young Democracies.
Ethan B. Development Without Aid. David A. Goldin Ian ; Reinert Kenneth. Trade, Aid and Global Interdependence. George Cho. The Beginner's Guide to Nation-Building. James Dobbins. Strategic Consequences of India's Economic Performance. Sanjaya Baru. The Right to Know. Ann Florini. The Downsizing of Asia. Understanding Development.
India-China Relations in the Age of Xi Jinping | YaleGlobal Online
John Rapley. Workers, Unions, and Global Capitalism. Rohini Hensman. Japan's Foreign Aid. David Arase.
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The Great Wall of Money. Eric Helleiner. State-Directed Development. Atul Kohli. Industralization of China and India. Nobuharu Yokokawa. Beyond the Global Capitalist Crisis. Berch Berberoglu. Regional Trade Arrangements. International Monetary Fund. The Political Economy of Reform Failure. Mats Lundahl.
- China's Rise in the Age of Globalization - Myth or Reality? | Jianyong Yue | Palgrave Macmillan.
- The Hungry Dragon: How Chinas Resource Quest is Reshaping the World.
- T.V. Paul » Books;
Harm Mr. R 75, Japan and China in the World Political Economy. Saadia Pekkanen. The next wave of outperformers now looms, as countries from Bangladesh and Bolivia to the Philippines, Rwanda, and Sri Lanka adopt a similar agenda and achieve rapid growth. The dynamism of these economies has gone hand in hand with the rise of highly competitive emerging-market companies. These companies play a growing role on the global stage: while they accounted for only about 25 percent of the total revenue and net income of all large public companies in , they contributed about 40 percent of the revenue growth and net-income growth from to More than of these companies have joined the Fortune Global list since , 2 2.
They can also earn better returns for investors. Between and , the top quartile of outperformer companies generated an average total return to shareholders of 23 percent, compared with 15 percent for top-quartile companies in high-income countries Exhibit 1. Much of the recent focus on globalization has been on trade pullbacks, rising protectionist measures, and public hostility.
As a phenomenon, however, globalization has not gone into reverse; rather, it has shifted gears to become more data driven and more focused on south—south flows. While cross-border flows of goods and finance have lost momentum, data flows are helping drive global GDP. Cross-border data bandwidth grew by times between and , to more than terabytes per second—a larger quantity per second than the quantity contained in the entire US Library of Congress—and is projected to grow by another nine times in the next five years as digital flows of commerce, information, searches, video, communication, and intracompany traffic continue to surge.
The developing world is driving global connectedness. For the first time in history, emerging economies are counterparts on more than half of global trade flows, and south—south trade is the fastest-growing type of connection. South—south and China—south trade jumped from 8 percent of the global total in to 20 percent in By , China accounted for 15 percent of world GDP. Global value chains are also evolving. They are being reshaped in part by technology, including automation, which could amplify the shift toward more localized production of goods near consumer markets.
And they are changing along with global demand, as China and other developing countries consume more of what they produce and export a smaller share. As emerging economies build more comprehensive domestic supply chains, they are reducing their reliance on imported intermediate inputs.
Opinion | India and the promise of service revolution
The result is that goods-producing value chains have become less trade intensive, even as cross-border services are growing briskly—and generating more economic value than trade statistics capture, according to our analysis. Trade based on labor-cost arbitrage has been declining and now makes up only 20 percent of goods trade. Global value chains are becoming more knowledge intensive and reliant on high-skill labor. Finally, goods-producing value chains particularly those for automotive as well as computers and electronics are becoming more regionally concentrated, as companies increasingly establish production in proximity to demand.
Businesses have been harnessing advanced analytics and the Internet of Things to transform their operations, and those in the forefront reap the benefits : companies that are digital leaders in their sectors have faster revenue growth and higher productivity than their less-digitized peers do. They improve profit margins three times more rapidly than average and are often the fastest innovators and the disruptors of their sectors.
The forces of digital have yet to become fully mainstream, however: on average, industries are less than 40 percent digitized. Now comes the next wave of innovation, in the form of advanced automation and artificial intelligence AI. An explosion in algorithmic capabilities, computing capacity, and data is enabling beyond-human machine competencies and a new generation of system-level innovation, such as the driverless car. Machines already surpass human performance in areas like image recognition and object detection, and these capabilities can be used to diagnose skin cancer or lip-read more accurately than human experts can.
Our analysis of more than use cases found that AI could improve on traditional analytics techniques in 69 percent of potential use cases. Yet AI is not a silver bullet.
Significant bottlenecks, especially relating to data accessibility and talent, will need to be overcome, and AI presents risks that will need to be mitigated. Labor-productivity growth is near historic lows in the United States and much of Western Europe, despite a job-rich recovery after the global financial crisis. Productivity growth averaged just 0. This weakness comes as birth rates in countries from Germany, Japan, and South Korea to China and Russia are far below replacement rates and working-age-population growth has either slowed or gone into reverse.
These demographic trends put a greater onus on productivity growth to propel GDP growth: over the past 50 years, just under half of GDP growth in G countries came from labor-force growth, while productivity growth accounted for the remainder. Digitization promises significant productivity-boosting opportunities in the future, but the benefits have not yet materialized at scale in productivity data because of adoption barriers and lag effects as well as transition costs.
Our research suggests that productivity could grow by at least 2 percent annually over the next ten years, with 60 percent coming from digital opportunities. The retired and elderly over 60 in many developed countries are increasingly important drivers of global consumption. The number of people in this age group will grow by more than one-third, from million today to million in That is 19 percent of global consumption growth. In addition to increasing in number, individuals in this group are consuming more, on average, than younger consumers are, mostly because of rising public- and private-healthcare expenditure.
With low fertility in the developed world, migration has become the primary driver of worldwide population and labor-force growth in key developed regions. Since , growth in the total number of migrants in developed countries has averaged 3. Besides contributing to output today, immigrants provide a needed demographic boost to the current and future labor force in destination countries. Improving the old-age-dependency ratio is of critical importance to countries like Canada, Germany, Spain, and the United Kingdom, where worsening dependency ratios threaten to make many pay-as-you-go plans unsustainable.
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Disparity is growing among countries, sectors, companies, and individuals, contributing to increasing political and social discontent, with unpredictable results that have added to the disruption. Superstar companies come from all sectors of the global economy, and their diversity has increased over the past 20 years. US companies still make up the largest share of the leaders, accounting for 38 percent, compared with 45 percent in the s. Companies from China, India, Japan, and South Korea have made the biggest gains and now account for 22 percent of the total, up from 7 percent. These top-decile companies capture 1.
By contrast, the bottom decile destroys more value than the top 10 percent creates Exhibit 4. This paper examines the trade of Tamil Muslim maritime merchants in the late eighteenth century.
China's Rise in the Age of Globalization
In particular, it studies the response of Tamil Muslim merchants within the context of existing scholarship on Indian maritime merchants and argues that the Tamil Muslim merchants continued their maritime trade and even expanded into the newly In particular, it studies the response of Tamil Muslim merchants within the context of existing scholarship on Indian maritime merchants and argues that the Tamil Muslim merchants continued their maritime trade and even expanded into the newly established EIC settlements.
Bombay, which became the headquarters of the English East India Company in Western India in , began its economic growth as a major trading port of Arabian Sea in the mid eighteenth century In the first ambassador of the English East India Company was sent to Pune or the capital city of the Maratha Confederacy which ruled Western India, and three successors stayed in Pune to keep economic and political tie-up with the Maratha Confederacy.
However, this does not mean Western India was incorporated in the European economic system in this period. Rather, European merchants faced the Indian economic system, especially the monetary system transactions were often carried out in the bill of exchanges called hundi, which were accepted in most parts of the Indian subcontinent. This paper considers how the Indian monetary system operated and how the activities of European merchants were incorporated into this system in the This paper considers how the Indian monetary system operated and how the activities of European merchants were incorporated into this system in the late eighteenth century.
The principal aim of the contribution is looking at the presence of the European and especially of the Italian merchants inside the Asian markets along the different directions that the Asian trade was shaped during the 17th and 18th century. A period during which the Italians were slowly disappearing in front of other merchants, better organized and protected by the Trade Companies. At the centre of this research there is a comparison between the fortune of the ancient Silk Road and the New Maritime Road that by the most recent historiography is considered have been much more profitable than the ancient Silk Road and the central axis of the At the centre of this research there is a comparison between the fortune of the ancient Silk Road and the New Maritime Road that by the most recent historiography is considered have been much more profitable than the ancient Silk Road and the central axis of the rapports between the East Asia and the West.
From eleventh to thirteenth centuries, East Asia was a leader in the medieval commercial revolution. The field of Korean accounting history has argued that one of the legacies was the appearance of a Double-Entry Bookkeeping system. Copper coin had lasted as a monetary form in the East Asia particularly Korea throughout the last millennium Unlike elsewhere, monetary authority to mint coin always kept the neutral position from the reigning political power.
The Code provides the basis for the early modern Korean monetary system and shares the Western view derived from Greek thought that money originated from Aristotle's deduction and Plato's imagination of money. In the seventeenth and eighteenth centuries Thai Ayutthaya and Nguyen-governed Hoi An were two of the most significant regional, interregional, and international ports-of-trade in Southeast Asia.
They attracted transient, semi-permanent, and permanent multicultural populations who both kept the ports supplied with valued and high-demand commodities, as well as participating in the sale and purchasing of goods as intermediaries on the expansive trade routes from China and Japan to Indonesia, South Asia, and Europe, and meeting the needs of local populations. The present study, built upon new documentary evidence from both Asian and European sources and recent archaeological excavations, serves as the first significant comparative study of these ports-of-trade as they functioned within the larger and expanding maritime trading world.
No serious effort has been made to check the validity of the generic statement. There is no gainsaying that these discoveries played very critical role in establishing a faster and safer transportation of commodities among three continents, namely, Asia, Europe and America or New World but did it cause complete shift in the old channel of trade: India-Persia-Europe? In the present paper, our concern is confined to the changes witnessed in Euro Asian trade focussing primarily on Persia.
This paper examines the global circulation of copper in the early modern period. A special focus is on new copper producing countries in the eighteenth century. In the mid-seventeenth century Japan began to export large volumes of copper to the world.