Why Emerging Economies Need Social Policy: the Cases of China and India

Abstract

Emerging economies are reshaping global economic power. Their growth rates have been consistently above those of the old hegemonic powers, and they managed the impacts of the financial crisis remarkably well. While this rise has been associated with integration into global markets, this has not been associated with unbridled liberalisation, but active state intervention has been behind a significant part of the growth story. (...)

"As economias emergentes estão reformatando o poder econômico global. Suas taxas de crescimento têm, invariavelmente, se mantido acima daquelas dos poderes hegemônicos, além de terem lidado particularmente bem com os impactos da crise financeira. Embora esse crescimento tenha relação com a integração nos mercados globais e não com uma liberação desenfreada, a intervenção ativa do Estado teve papel significativo nessa história de crescimento."(...)