China and India: The power of complementary cultures

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China and India: The power of complementary cultures

From the role of government to attitudes toward foreign investment and the nature of entrepreneurship, China and India differ in fundamental ways. Yet the future of these two cultures rests on a shared optimism of people on the streets, an outlook grounded in the belief that it is possible for individuals to work their way up the economic ladder—a notion that is expanding in China and India just as it is being challenged in the United States. So says Tarun Khanna, Harvard Business School professor and author of Billions of Entrepreneurs: How China and India Are Reshaping Their Future and Yours. The result is rapidly increasing cross-border trade and a growing trust built on familiarity that is reshaping their future—and the rest of the world’s.

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China’s ‘sticky floor’

Economic success in China will hinge on fixing the gender inequality among its workers.

China’s transformation to a market-oriented economy has been accompanied by a significant increase in the pay gap between men and women. In many industrialized economies, gender-based differences are most pronounced in white-collar jobs, creating a “glass ceiling” for women who work in the office. But as China industrializes, gender pay differences are most striking among blue-collar workers. In this video interview, economists Li Bo and Chi Wei from China’s Tsinghua University consider whether China’s female factory workers labor on a “sticky floor.” The professors are the recent recipients of the first McKinsey Economics Award issued by the McKinsey China Council of Business Economists. Janamitra Devan of the McKinsey Global Institute conducted the interview in February 2009.

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