Summary: For ambitious economies that have recently overcome historical economic obstacles and become stable and vibrant engines of growth, the question now is how to make growth sustainable and inclusive. For the People’s Republic of China and India, innovation is now the key to their economic futures. Yet the legacies of their growth present troubling issues, chiefly environmental degradation. Both economies are also striving to avoid the middle-income trap that can, in the case of China, undermine sustainability or, in the case of India, undermine inclusiveness. Although they share characteristics—a large population and territory, as well as a long history of civilization—they are different in important ways. Read the transcript https://bit.ly/2OXSwvr Read the working paper https://www.adb.org/publications/catching-economic-transition-innovation-prc-and-india About the author Peilei Fan is an associate professor of urban and regional planning at Michigan State University, Michigan, USA. Know more about ADBI’s work https://bit.ly/2MI2WSc https://bit.ly/2N5WyBt
