Call for Papers:
A Special Issue onEmergence of China and India as Economic Super Powers: Opportunities to Canada
Dr. Someshwar Rao
The two Asian economic giants, China and India, have increased greatly their role in the world economyover the last 20 years. They represent almost 40% of world population. Their contributions to global GDP, trade, and FDI have increased a great deal. Their shares of world R&D and human capital have also gone up considerably. In short, these two BRIC countries have become the growth engines of the world economy, in particular brought economic expansion and prosperity to their Asian neighboring countries. The fast rising middle-class and the rapid growth of transnational corporations in these two countries are source of the rapid expansion of demand for goods and services and natural resources and resource-based from domestic and external sources, in particular from advance d countries such as Australia, Canada and the United States, and would provides tremendous opportunities for strengthening trans-continental supply chains and increasing economic specialization in all the countries.
Chinais the second largest economy, after the United States, in the world economy, with a GDP of US$ 9.1 trillion in 2009, measured in PPP exchange rates. India’s economy is the 4th largest in the world, behind the United States, China and Japan, with a GDP of US$ 3.8 trillion in 2009. These two economies grew at a much faster than the United States’ and Canadian economies since 2000. Between 2000and 2009, the economies of China and India expanded at an average annual rate of 10.3% and 7.1%, respectively. On the other hand, the United States and Canadian economies grew at the rate of only just about 2%.
According to Goldman Sachs and other prominent observers, the two Asian economic giants are expected to continue to grow at a much faster pace than the advanced OECD economies in Europe and North America over the next 20 to 25 years. Population ageing, labor force growth slowdown, large government and household debt levels and weak trend productivity all expected to constrain economic growth in Europe and North America. On the other hand, the rising middle-class and transnational corporations, accumulation of physical and human capital, increased innovation and economic specialization and relatively favorable demographics all will increase opportunities for strong economic growth in China and India, and closing the per-capita income level gap with the advanced OECD economies. Consequently, China is expected to become the number one economy in the world over the next 15 to 20 years. Similarly, India is also expected to move-up in the global rankings. By 2020, it could overtake China as the growth leader. According to the latest projections by Goldman Sachs and others, India is expected to be the number two in the world economy, behind China, by 2030.
Canadais a medium-sized open economy in the world. It relies heavily on international trade and foreign direct investment. Canada has a strong comparative advantage in natural resources and resource-based products. Canada’s trade and investment relations have been predominantly with the United States, largely because of the geographic proximity. On the other hand, Canada’s commercial linkages with the two Asian economic giants are very weak. For instance, even today China accounts for less than 2% of Canada’s total merchandise exports. Similarly, India’s share is less than 1%. Canada’s investment linkages with these two countries are minimal. Nevertheless Canada’s commercial relations have been strengthening over the last 10 years.
In view of the expected slowdown in demand in Canada, the United Statesand Europe over the next 15 to 20 years, Canada needs to enhance its commercial relations with these two large fast growing Asian economies, crucial for increasing specialization, raising external demand for Canadian products and services, and raising the trend productivity growth and improving real incomes of Canadians. Given its endowment of natural resources and a large stock of immigrants from these two countries, Canada is in good position to strengthen its commercial linkages with these countries.
The proposed special issue of Transnational Corporations Review (TNCR) invites researchers and policy analysts in Canada, China and India to contribute to the understanding of opportunities and challenges of expanding trade, investment and innovation relations among the three countries. By bringing together the state of the art knowledge, thoughts and perspectives on the three economies, the special issuehopes to contribute to policy discussions and policy development.We would like the contributions to focus on the following policy research questions:
- What have been the emerging major structural changes in the three countries?
- What has been the growth record over the past 25 years in these countries?
- What are the medium to loner-term prospects for economic growth?
- What is the comparative advantage of the three countries?
- How strong are the commercial linkages among them?
- What are barriers and impediments to trade and investment among them?
- Are their major opportunities for strengthening supply chains and for increasing production specialization in the three countries?
- What are the likely economic benefits and costs from freer trade among them?
TNCR is a peer-reviewed international journal dedicated to providing economic, business, policy, and business analysis topical issues related to transnational corporations, foreign direct investment,institutional innovation, and international commercial relations, and development. It is regularly indexed in ALJC, AMICUS, CrossRef, EBSCO, EconLit, Scopus, and SSCI/SCI (under review).
Paper Submissions: The submission deadline for this special issue is October 31, 2011. Contributors will be notified of the decision on the submissions by November 30, 2011. Please send your submissions in Microsoft Word by e-mail to the Guest Editors at [log in to unmask]and [log in to unmask], accompanied by a statement that the paper has not been published elsewhere, and submitted exclusively to TNCR. Submissions should not normally exceed 4,000 words, and should include an abstract of 150 words and 3-5 key words.For more information about TNCR and guidelines for a publication, please visit the website www.tnc-online.net.