ABSTRACT
Keen observers of China and India can hardly overlook the similarity of economic challenges facing both countries. As the world's largest developing countries, they need to keep growing fast for several years to ensure that their poor and low-income people have enough opportunities for improving living standards and quality of life. While high growth is a necessary condition for ameliorating poverty, it may not be sufficient unless distribution improves across income classes and categories, something both countries are aware of. What is becoming an increasing source of worry for both is the downside of the structural transformation following economic growth, along with the stresses of maintaining high growth.
