China and India: catching up with the West?
Saturday 1 November, 10.30am until 12.00pm, Lecture Theatre 1

India and China are the world’s fastest growing economies. The multinationals of the developing world are challenging the dominance of Western firms. China’s oil companies and mining firms are spreading throughout the developing world, while India’s hi-tech firms are more than a match for many in the developed world. The world’s tallest buildings, largest airports, fastest trains, and biggest dams are now all to be found in the developing world.

Despite the rapid growth of the emerging economies, however, all reasonable projections point to a continued gap for decades to come between the West and the rest. China and India may soon become the world’s largest economies, but it is not certain they will ever be the richest. Does this matter? ‘Good enough’ technology such as Tata’s Nano, only a tenth the price of a Mercedes Smart Car, may allow people to enjoy some of the benefits of development without having to catch up in dollar terms. Similarly, the rapid adoption of mobile telephony seems to have bypassed the need for landlines. But without roads, an electricity grid and the provision of water and sewage systems to the majority of the population, how developed can a country really become?

Can the emerging economies jump a stage in development to become fully modern, or is their growth limited to dynamic pockets that lack the economic might to transform whole countries?

Watch the session video...

Phil Mullan
economist and business manager; author, Creative Destruction: How to start an economic renaissance
Sundeep Kumar
director, Corporate Affairs & Communications at SABMiller, India
Professor Adrian Wood
professor of international development, University of Oxford; former Chief Economist of the UK’s Department for International Development.
Dr Xiaolan Fu
director, Sanjaya Lall Programme for Technology and Management for Development and Fellow of Green-Templeton College, Oxford University; senior research associate, Judge Business School, University of Cambridge.
Patrick Hayes
director, British Educational Suppliers Association (BESA)

 Produced by
Stuart Simpson financial services professional; researcher and writer, emerging economies and quantitative finance

Ceri Dingle director, WORLDwrite & WORLDbytes

Patrick Hayes director, British Educational Suppliers Association (BESA)

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