This paper analyses the integration of China and India into the global economy. To this end, it presents estimates from … China's trade intensity is higher than fundamentals would suggest, whereas the converse is true for India. Second, Chinese …, China's exports of services tend to complement its exports of goods, while India's exports are growing only in deregulated …

evolve as we expected. China is likely to graduate from the periphery to the center in the next few years. This graduation … cycle. Finally, recent policy initiatives suggest that India is poised to replace China as the dominant periphery country …