Book Review: Shanghai WTO Affairs Consultation Center, 2013 China’s Trade Performance Report: World Economy Restructuring and China’s Trade
| DOI | 10.1177/0015732513496623 |
| Published date | 01 August 2013 |
| Date | 01 August 2013 |
| Subject Matter | Book Reviews |
433
play an influential role in the global economy because of its diversity in social,
economic and political spheres. He reiterates that the economic challenges for
India in the near future are in certain ways different from the economic challenges
faced by other countries in Asia. The outcome may or may not be similar for
India. But apparently the direction is clear. Asia and India will in future account
for a significantly larger share of global economic activity than now. It can be
definitely said the economic power will shift from the West to Asia simultane-
ously. It is possible that such a shift in economic power may follow the shift in
economic activity with a time lag.
Finally, Dr Reddy formulates strategy what ought to be done to achieve 9–10
per cent annual growth. First, the level of domestic savings should be restored to
pre-crisis levels and it has also to be enhanced significantly. Second, the climate
for investment should be conducive to domestic investors. Small and medium
businesses should be recognized and their scope for enlarging employment should
be utilized so that vertical economic and social mobility are guaranteed. Third,
productivity has to be improved and the country should have the capacity to pay
for all imports through exports. Fourth, public sector capacity should be improved
to overcome bottlenecks in social infrastructure. Indian society demands a sense
of fairness in public systems. Finally, a commitment is needed from the private
sector to ensure healthy standards of governance and ethical conduct. The task of
attaining 9–10 per cent growth has to be attended to by both the public and private
sectors.
The book is a healthy contribution to the current debate on rebalancing the
world economy through strict regulation, sensitive policymaking and governance.
It is useful for people who take a deep interest in global economy and finance.
Anil K. Kanungo
Editor, Foreign Trade Review
Indian Institute of Foreign Trade
New Delhi, India
E-mail: akanungo@iift.ac.in
Shanghai WTO Affairs Consultation Center, 2013 China’s Trade
Performance Report: World Economy Restructuring and China’s Trade. New
York: SCPG...
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