The study will focus on the current financial crisis and its impact on the growth, trade and employment in emerging market economies (EMEs) namely China and India. The emerging market economies are characterized as transitional, which means that they are in the process of moving from a closed to an open market economy. It is said that by adoption of neoliberal policies, the economy will suppose to lead to a better economic performance levels, as well as transparency and efficiency in the capital market. \ud\ud\udThe proponents of the ‘neoliberal economic policies’ always maintained that it is working and as a consequence, for example, the Indian economy is growing at high rates, the stock market is booming, foreign reserve is at a comfortably high level. The ‘free trade’ policy is making availability of a variety of goods unimaginable earlier as a mark of the benefits of globalization. The ‘invisible hand’ of the market, tries to pretend that market operates in isolation. On the basis most recent available data and studies the author has examined the impact of financial crisis on the economic growth and various sectors of the economies in China and India. \ud\ud\udFinally, the author finds the argument that China emerging as the alterative engine of growth for the world economy is too ambitious. Some have suggested that a ‘decoupled Asia’ through its own growth and expanding domestic demands would ensure higher imports demands for its growing economies and thus limit the economic slowdown in the developed economies. But this is unlikely due to: the US, EU and Japan together account for more than half of China’s exports, and as recession deepens, it is bound to affect export sector and overall economic activity in China.
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机译:该研究将集中于当前的金融危机及其对新兴市场经济体(即中国和印度)的增长,贸易和就业的影响。新兴市场经济体的特征是过渡性的,这意味着它们正在从封闭市场经济向开放市场经济转变。据说,通过采用新自由主义政策,经济将有望带来更好的经济表现水平,以及资本市场的透明度和效率。 \ ud \ ud \ ud“新经济政策”的支持者始终坚持认为它是有效的,因此,例如,印度经济高速增长,股市蓬勃发展,外汇储备高居舒适水平水平。 “自由贸易”政策正在使人们难以想象的各种商品的供应成为全球化好处的标志。市场的“看不见的手”试图假装市场是孤立运行的。根据最新的可用数据和研究,作者研究了金融危机对中国和印度经济增长以及经济各部门的影响。最后,作者认为中国崛起为世界经济增长的替代引擎的观点过于雄心勃勃。一些人认为,通过自身增长和扩大内需实现“脱钩的亚洲”将确保其增长中的经济体对进口的需求增加,从而限制发达经济体的经济放缓。但这不太可能是由于:美国,欧盟和日本合计占中国出口的一半以上,而且随着经济衰退的加剧,它必将影响中国的出口部门和整体经济活动。
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