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ID:
178417
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| Summary/Abstract |
This article examines the economic growth prospects of China’s services sector. Reportage on China’s economy and its data releases tends to focus largely on aggregate GDP growth, manufacturing growth, retail sales and investments, and fails to adequately cover services despite them being the largest contributor to growth. The article parses the growth of China’s various services subcomponents across a range of parameters and assesses that the industry has come under duress with a slowdown in complementary manufacturing and the dissipation of growth bubbles in finance and real estate. It is further observed that reforms necessary for spurring services growth are at a nascent stage, proceed slowly, and are imperilled by GDP growth targets that result in policies favouring the manufacturing industry. In sum, while China’s services growth prospects are hardly in dire jeopardy due to favourable demand-side conditions, achieving potential and affecting convergence with high income countries will necessitate the expedition of reforms and the engineering of a sustained high growth phase in the sector.
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| 2 |
ID:
169367
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| Summary/Abstract |
Huawei, the Chinese telecom giant, has emerged as a key player in the provision of infrastructure required to support 5G wireless networks, the adoption of which will be foundational to recipient countries’ deployment of emerging technologies such as artificial intelligence and the Internet of things. At the same time, however, security concerns with respect to Huawei’s ties to the Chinese army and state abound, prompting a number of countries to ban the company from supplying them said telecom infrastructure. India, however, is on the fence in this regard. This article assesses India’s Huawei conundrum through a conceptual framework of economic dependence wherein the costs of a ban and willingness to ban are examined in detail. It is argued that since the expected costs of banning Huawei equipment and the security risks of using them are both substantially high, India’s course of action must be to defer a quick decision and bargain for benefits and assurances.
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