All are cordially invited to the Econ-Talk  "Labour and Industrialization: Comparing the Indian and Chinese Experiences" by Prof. Jayan Jose Thomas, on Wednesday, Sept 22, at 3.30 PM. The details of the talk are given below:

Title: Labour and Industrialization:  Comparing the Indian and Chinese
Experiences

Abstract:

The per capita incomes of China and India were similar in the early
1990s. But by 2019, China's per capita income increased to 2.4 times
the corresponding Indian level. This paper traces these differences to
the success of Chinese industrialization in absorbing the large
increases in working-age population in that country. The prime movers
of industrial growth and employment creation in China changed from the
township and village enterprises during the 1980s to export-oriented
firms during the 1990s, and to innovative industries today. Compared
with China, the rate of growth of employment in industry and services
has been much slower in India. This has led to an employment crisis,
particularly so with the expansion of the working age population in
the country during the 2000s and 2010s. In response to the global
financial crisis, while India reduced its investment rates (from 40%
in 2007 to 30% in 2019), China built new infrastructure and
technologies, a large part of which coming from state-owned
enterprises. The Chinese and the East Asian experiences highlight that
it is not cheap wages but clearly targeted policies and interventions
by the state that ensure faster industrial growth. The employment
challenge that India faces can be resolved only with a big spurt in
investment, including public investment in the productive sectors, and
well-directed industrial strategies.
 

Date: Sept 22, 2021 (Wednesday); Time: 3.30-5.00pm

MS-Team Link