ABSTRACT
The Indian corporate economy is divided between indigenous business and expatriate corporations. Indian business also has been dominated by family business. In contrast to India, which had a common law tradition, China possessed a chimerical civil law culture. After 1950, the Chinese state relied on central planning to mobilize the country's resources in order to achieve rapid industrialization. The unique characteristics of Chinese globalization offer interesting contrasts with the Tata Multinational. India's historical strength in international business has been in a high savings ratio, relatively good infrastructure especially in railways, skilled labour force in Information technology industries and thus a higher value-added productivity factor. The Chinese civil law reconstructed after the Cultural Revolution included vital property laws distinguishing private property, state property and collective property. The Law on Chinese Foreign Equity Joint Ventures, which attracted foreign companies to establish joint ventures, further underlined the urgency for contractual and financial reforms.
