Intro -- Contents -- Acknowledgments -- About the Authors -- Abbreviations -- Chapter 1. Introduction -- China Awakens -- India Gathers Speed -- The Puzzle of Growth Miracles -- Enter Korea -- China Sets a New Benchmark -- India in the Global Scales -- Savings, Investment, Technology, and Growth: A Comparison -- In a Class of Its Own -- References -- Chapter 2. Development Experience of China and India -- China's Industrial Development -- India's Development Experience -- References -- Chapter 3. Trade Dynamics in China and India -- Asian Intraregional and Intra-industrial Trade -- Investing to Export -- Wages and Labor Productivity -- Competitive Advantage and Its Evolution -- Role of FDI and Processing Trade -- China and India as Importers -- References -- Chapter 4. Unfolding Industry Dynamics in East and South Asia -- Industrial Trends in the Rest of Asia -- Trade Competition: China, India, and the Rest -- Technological Capabilities and Competitiveness -- Future Prospects -- References -- Chapter 5. The Drivers of Asia's Industrial Geography -- Rebalancing the United States -- Savings and Investment -- Major Technological Shifts -- Clustering of Industrial Activities -- Shift in Global Production Networks -- References -- Chapter 6. Industrial Strategy at a Crossroads -- Scenario 1: Business as Usual -- Scenario 2: Concentration of Economic Activities in China and India -- Scenario 3: New Industrial Epoch, New Opportunities -- Concluding Observations -- References -- Index -- Figures -- 1.1 Per Capita GDP Growth of Germany and Japan (Deviation from World per Capita GDP Growth) -- 1.2 Per Capita GDP Growth of China, India, and the Republic of Korea (Deviation from World per Capita GDP Growth) -- 1.3 Gross Capital Formation -- 1.4 Gross Domestic Savings -- 1.5 Exports of Goods and Services -- 1.6 Share of World GDP.

1.7 Global Share of Nominal GDP -- 1.8 Share of FDI in GDP -- 1.9 Per Capita GDP Growth and Labor Force with Tertiary Education -- 1.10 Per Capita GDP Growth with Patents -- 1.11 Per Capita GDP Growth and Labor Force with Tertiary Education: China -- 1.12 Per Capita GDP Growth and Labor Force with Tertiary Education: India -- 2.1 Relationship between GDP Growth and Growth in Manufacturing Value Added -- 2.2 Percentage Point Contribution of Real Net Exports to GDP Growth in Asia -- 2.3 Composition of GDP (Supply Side), China -- 2.4 Industrial Composition by Type of Manufactures of China, 1981, 1990, and 2003 -- 2.5 Output per Worker by Sector, China, 1978-2004 -- 2.6 Share in Global Output, Textiles, 1981 and 2002 -- 2.7 Share in Global Output, Wearing Apparel (except Footwear), 1981 and 2002 -- 2.8 Share in Global Output, Leather Products, 1981 and 2002 -- 2.9 Share in Global Output, Electric Machinery, 1981 and 2002 -- 2.10 Export Composition of China by Technology Class -- 2.11 Export Composition of Japan by Technology Class -- 2.12 Export Composition of the Republic of Korea by Technology Class -- 2.13 Average Tariff Rates, China and India -- 2.14 Composition of GDP (Supply Side), India -- 2.15 Industrial Composition by Type of Manufactures of India, 1981, 1990, and 2002 -- 2.16 Contribution of Leading Sectors to Growth, India, 2002-03 through 2007-08 -- 2.17 Output per Worker by Sector, India, 1978-2004 -- 2.18 Contribution to Growth (Demand Side), India -- 2.19 Export Composition of India by Technology Class -- 2.20 Gross School Enrollment, 2006 -- 3.1 Changes in Intra-industry Trade of East Asian Economies -- 3.2 Intra-industry Trade by South Asian Economies -- 3.3 Intra-industry Trade in Auto Parts by Asia Region -- 3.4 Intra-industry Trade in Electronics and Electrical Machinery by Asia Region.

3.5 Intra-industry Trade in Furniture by Asia Region -- 3.6 Intra-industry Trade in Garments and Textiles by Asia Region -- 3.7 Intra-industry Trade in Auto Parts within the Region by Asian Economy -- 3.8 Intra-industry Trade in Electronics within the Region by Asian Economy -- 3.9 Intra-industry Trade in Furniture within the Region by Asian Economy -- 3.10 Intra-industry Trade in Garments within the Region by Asian Economy -- 3.11 Trends in Direct Threat Faced by the Republic of Korea in EU15 Market from India -- 3.12 Trends in Partial Threat Faced by the Republic of Korea in EU15 Market from India -- 3.13 Product Space of China, 1987 -- 3.14 Product Space of China, 2006 -- 3.15 Product Space of India, 1987 -- 3.16 Product Space of India, 2006 -- 3.17 East Asia Inward FDI -- 3.18 South Asia Inward FDI -- 3.19 Average Tariff Rates, East Asia -- 3.20 Average Tariff Rates, South Asia -- 4.1 Industrial Composition by Type of Manufactures of Japan: 1981, 1990, and 2002 -- 4.2 Industrial Composition by Type of Manufactures of the Republic of Korea: 1981, 1990, and 2002 -- 4.3 Industrial Composition by Type of Manufactures of Taiwan, China: 1981, 1990, and 1996 -- 4.4 Export Composition of Japan by Technology Class -- 4.5 Export Composition of the Republic of Korea by Technology Class -- 4.6 Export Composition of Taiwan, China, by Technology Class -- 4.7 Product Space of Japan, 1987 -- 4.8 Product Space of Japan, 2006 -- 4.9 Product Space of the Republic of Korea, 1987 -- 4.10 Product Space of the Republic of Korea, 2006 -- 4.11 Product Space of Taiwan, China, 1995 -- 4.12 Product Space of Taiwan, China, 2006 -- 4.13 Share of Exports Destined for China -- 4.14 Product Space of Singapore, 1987 -- 4.15 Product Space of Singapore, 2006 -- 4.16 Manufacturing, Value Added -- 4.17 Industrial Composition by Type of Manufactures of Indonesia: 1981, 1990, and 2003.

4.18 Industrial Composition by Type of Manufactures of Malaysia: 1981, 1990, and 2002 -- 4.19 Industrial Composition by Type of Manufactures of the Philippines: 1981, 1990, and 1997 -- 4.20 Industrial Composition by Type of Manufactures of Thailand: 1981, 1990, and 1994 -- 4.21 Product Space of Indonesia, 1987 -- 4.22 Product Space of Indonesia, 2006 -- 4.23 Product Space of Malaysia, 1987 -- 4.24 Product Space of Malaysia, 2006 -- 4.25 Product Space of the Philippines, 1987 -- 4.26 Product Space of the Philippines, 2006 -- 4.27 Product Space of Thailand, 1987 -- 4.28 Product Space of Thailand, 2006 -- 4.29 Share of Manufactured Exports of Southeast Asian Countries Destined for the United States, EU15, and China -- 4.30 Composition of Exports from Southeast Asia to India, 1987 and 2006 -- 4.31 Composition of India's Exports to Southeast Asian Countries, 1987 and 2006 -- 4.32 Share of Overlapping Trade Values between Southeast Asian Countries and India -- 4.33 Share of Overlapping Trade Values between Southeast Asian Countries and China -- 4.34 Share of Overlapping Trade Values between Southeast Asian Countries and India by Technology Class -- 4.35 Share of Overlapping Trade Values between Southeast Asian Countries and China by Technology Class -- 4.36 GDP Growth -- 4.37 Manufacturing, Value Added -- 4.38 Industrial Composition by Type of Manufactures of Pakistan: 1981, 1990, and 1996 -- 4.39 Industrial Composition by Type of Manufactures of Bangladesh: 1981, 1990, and 1998 -- 4.40 Industrial Composition by Type of Manufactures of Sri Lanka: 1981, 1990, and 2001 -- 4.41 Industrial Composition by Type of Manufactures of Vietnam: 2000, 2003 -- 4.42 Dependence on U.S and EU Markets -- 4.43 Exports to China from Bangladesh, Sri Lanka, Pakistan, and Vietnam -- 4.44 Exports to India from Bangladesh, Sri Lanka, Pakistan, and Vietnam.

4.45 China's Share of Imports in Bangladesh, Sri Lanka, Pakistan, and Vietnam -- 4.46 India's Share of Imports in Bangladesh, Sri Lanka, Pakistan, and Vietnam -- 4.47 Product Space of Bangladesh, 1987 -- 4.48 Product Space of Bangladesh, 2006 -- 4.49 Product Space of Pakistan, 1987 -- 4.50 Product Space of Pakistan, 2006 -- 4.51 Product Space of Vietnam, 2006 -- 6.1 Global Commodity Prices -- 6.2 Foreign Direct Investment, Net Inflows -- 6.3 Foreign Direct Investment, Net Inflows, Excluding China -- Tables -- 1.1 Shares of World GDP, 1820-2030 -- 1.2 GDP Growth -- 1.3 Trade -- 1.4 Manufacturing Value Added -- 1.5 Global Share of Exports of Goods and Services -- 1.6 Per Capita Income in 1950 -- 1.7 Expansion Multiples of GDP, 1950-99 -- 2.1 Composition of GDP (Supply Side), China -- 2.2 Industrial Composition of China, 2007 -- 2.3 Average Shares of Contribution to Growth, China -- 2.4 Sources of Growth: China, India, and East Asia, 1978-2004 -- 2.5 Sources of Growth by Major Sector, 1978-2004 -- 2.6 Value Added and Employment by Industry as Share of Total -- 2.7 Sectoral Growth in Output per Worker, 1978-2004 -- 2.8 Exports of Goods and Services -- 2.9 China Export Composition by Technology Class -- 2.10 Export Composition by Technology Class, 2006 -- 2.11 Global Rank and Share of Exports by China and India, 2006 -- 2.12 Industry's Contribution to GDP Growth in Four Chinese Cities -- 2.13 Gross School Enrollment, China -- 2.14 Gross Regional Product by Three Strata of Industry, China, 2008 -- 2.15 Share of Total Industrial Output Value by Type of Enterprise, China, 2008 -- 2.16 Industrial Output Growth: China, 1978-2008 -- 2.17 Sources of Economic Growth: Total Economy, India, 1960-2005 -- 2.18 Annual Growth in Exports: China and India, 1995-2004 -- 2.19 Global Share of Exports of Goods and Services.

3.1 Intraregional Trade in East and South Asia, 1980-2006.

A great burst of globalization brought the 20th century to a close, creating upheaval in the world economy from roughly 1995 to 2008. And now a second upheaveal is in the offing following the severe financial crisis that plunged the global economy into recession in 2008-09. The first upheaval witnessed a massive migration of manufacturing and certain business services that transformed Asia into the industrial heartland of the world. The second upheaval will likely consolidate Asia's industrial preeminence and could result in a concentration of industrial activities in the two most populous and fastest-growing Asian economies -- China and India. As the two Asian giants become the industrial equals of the United States, Germany, and Japan, the ramifications will affect trade and growth worldwide, the future of development in China and India, and industrialization throughout Asia. This book examines these developments, focusing specifically on China and India. Its analysis and conclusions will be of particular interest to policy makers and academics, as well as anyone with an interest in how China and India are likely to reshape industry thruoghout Asia.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.