Real Term Paper 2

8/8/2019 Real Term Paper 2

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Lovely professional University

TERM PAPER

OF

BUSINESS ENVIRONMENT

ON THE TOPIC OF

A REPORT ON SEZ: A COMPARATIVE STUDY

OF INDIA AND CHINA

Submitted to Submitted byMR. PRINCE VOHRA ASHUTOSH RAWAT

Roll no: - B44

Registration no: - 11003311

Section: - R1003


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ACKNOWLEDGMENT

It has been a great challenge but a plenty of learning and opportunities to gain hugeknowledge on the way preparing this term paper. I would not succeed without myteacherMr. PRINCE VOHRA, who seemed to be with me always; and prepared to giveme feedback and guidelines whenever I needed it.

Thank YouSir!

I hope you will find my working as interesting and knowledge earning. And it

will be useful for others wanting to learn about,A Report on SEZ: A Comparative

Study of India and china.


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INTRODUCTION

A Special Economic Zone, in short is a geographically bound zone where the economic zone

laws in matters related to export and import are more broadminded and liberal when compared to

the rest of the country. SEZs are projected as duty free areas of purpose of trade, operations ,

duty , and tariffs.SEZ units are self-contained and integrated having their own infrastructure and

Support services

Special Economic Zone means an area that has been specified as an enclave that is duty free and

is treated as a foreign territory for various purposes such as tariffs, trade operations, and duties.

A Special Economic Zone (SEZ) has economic laws that are more liberal than a country's typical

economic laws. The category 'SEZ' covers a broad range of specific zone SEZ includes Free

Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE),

Free Ports, Urban Enterprise Zones and others Within SEZs, a unit may be set up for the

manufacture of goods and others activities including processing and, assembling ,trading

,repairing , reconditioning , making of gold , platinum jewellery and so on .as per law , SEZ

units are deemed to be outside the customs territory of India .goods and services coming in to

SEZs for the domestic tariff area(DTA) are treated as export from India ,and goods and services

rendered from the SEZs to the DTA are treated as import into in India


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SPECIAL ECONOMIC ZONE IN INDIA AND CHINA:

INDIA was one of the first in Asia to recognize the effectiveness of the Export Processing

Zone(EPZ) model in promoting exports, with Asias first EPZ set up in Kandla in 1965.With a

view to overcome the shortcomings experienced on account of the multiplicity of controls

andclearances; absence of world-class infrastructure, andan unstable fiscal regime and with a

viewto attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy

wasannounced in April 2000.This policy intended to make SEZs an engine for economic growth

supported by qualityinfrastructure complemented by an attractive fiscal package, both at the

Centre and the Statelevel, with the minimum possible regulations. SEZs in India functioned from

1.11.2000 to09.02.2006 under the provisions of the Foreign Trade Policy and fiscal incentives

were madeeffective through the provisions of relevant statutes.To instill confidence in investorsand signal the Governments commitment to a stable SEZpolicy regime and with a view to

impart stability to the SEZ regime thereby generating greatereconomic activity and employment

through the establishment of SEZs, a comprehensive draftSEZ Bill prepared after extensive

discussions with the stakeholders. A number of meetings wereheld in various parts of the country

both by the Minister for Commerce and Industry as well asIn India, it is the fiscal sops being

offered to developers and units which are the primary drivingforce. The Chinese government

started building SEZs way back in 1979. The idea behind theSEZs was to experiment with liberal

policies in certain ear-marked regions while insulating therest of the economy from their

influence. The government identified huge tracts of land, near thecoastal region, and started

building mega cities with all required infrastructure.Stringent labour laws applicable in Chinawere relaxed in the regions and foreign investors were wooed with sops and the promise of

stability. Though India had a head-start in the direction by building its first export processing

zone in 1969 with certain minimum infrastructure and fiscal sops (seven more followed later), it

could not muster enough political will to build full-fledged SEZs with foreign territory status in

the matters of international trade till the turn of the century.In 00, former trade minister late

Murasoli Maran announced that India should try to replicate theCHINAS success story in SEZs

and announced an SEZ policy. However, when five years later theSEZ Act was passed by

Parliament and rules were framed, what India had was a policy verydifferent from Chinas.As

opposed to five mega SEZs built by the Chinese government (the largest being Shenzhenbuilt

over 49,500 hectares), India opened its doors to private players and allowed sector-specificSEZs

to develop on just 10 hectares of land. As a result, India has as many as 28 operationalSEZs with

about 200 more having received approvals. The economies of scale, which seems tohave worked

so well in China by reducing production costs, may not have the same effect inIndian SEZs.

In China, the government chose the location for SEZs with a lot of thought with all five

locatednear the coastal region. This makes it easier for SEZ units to export their products and


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importinputs. In India, SEZs are being built all over the country, wherever land can be acquired

bydevelopers. This has also led to allegations of land-grabbing and conversion of

productiveagricultural land by developers. This had led the Centre to make it mandatory that all

proposalsshould have a certificate from the state government notifying that the land being used is

non-agricultural for at least 90%.Flexibility in labour laws, which played an important role in

attracting foreign investors, isabsent in Indian SEZs. This is one of the prices India is having to

pay for the advantages of afederal democratic government.India has, however, tried to make up

for all the disadvantages by offering attractive fiscal sops.Tax holidays for SEZs in India are

longer and steeper than those given by China. This had givenrise to some dissent from thefinance

ministry which had complained that the fiscal loss would beimmense.

COMPARISION OF INDIAS SEZs Vs CHINAS SEZs

SEZ has been one of the key reasons for the huge FDI that China has managed to attract so far.

The concept of SEZ is fundamental model of China FDI model, where it developed SEZ on a

focused manner. This is to beremembered that, this did not happen overnight and it has taken 25

years for China to become what it is today. The incentives offered in Indian SEZs are in no less

than those in China. From duty-free imports and tax holidays to freedom from cumbersome

Custom procedures, the SEZs' facilities match those in China .Hence, theoretically at least,

India's SEZs should be no less attractive to foreign investors as the Chineseversions. But reality

paints a different picture. Conceptually, EPZs and SEZs are different while the former is an

industrial estate, the latter is an industrial township. The scopes of SEZs are much wider and

their linkages with the domestic economy stronger. Hence, merely switching from EPZs to SEZs,

without undertaking the required structural changes, do not guarantee success. This is to be

remembered that, Chinas resounding success with the SEZ model of economic development, did

not happen overnight and it has taken 25 years for China to become what it is today. There are


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five SEZs in China. Of these, four Shenzhen, Xiamen, Shantou and Zhuhai were founded

20years back and the fifth, Hainan, was set up in 1988.Following are some of the reasons of

China success with SEZ .Size: Each SEZ is well over 1,000 hectares, the minimum

recommended area. In India, the EPZs converted into SEZs are not even a third of this. Strong

domestic market: In China, about 50 per cent of SEZ sales are to the domestic market. Though

India has a large domestic market, it has failed to project this to lure SEZ investors. The reason:

Policy impediments to sales in the domestic market. While in China the thrust of SEZs has been

to attract foreign investments and modern technology, in India the emphasis has been on exports

.In 2001, the share of the five SEZs in the country's total exports was 10.4 per cent. In contrast,

the of Indian SEZs in 2001-02 was a little over 4 per cent of the total exports Decentralisation

of power: In China. Provincial and local authorities were made partners and stakeholders, by

delegating to them powers to approve foreign investment. The SEZ authorities in China can

approve foreign investment proposals up to $30 million. In India, only State governments are

allowed to set up SEZs and the powers for foreign investment approvals are vested with the

Development Commissioners, who are the representatives of the Central Government .FlexibleLabour Laws: The hire-and-fire policy in SEZs has been one of the biggest attractions for foreign

investors in China. The new labour law consists of 107 articles, but none of these is more than

one paragraph.


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Main objectives of SEZ:

The objective behind an SEZ is to enhance foreign investment, increase exports, create jobs and

Promote regional development. To put in the governments own words, the main objectives of

The SEZ s Are:

. Generation of additional economic activity;

. Promotion of exports of goods and services;

. Promotion of investment from domestic and foreign sources;

. Creation of employment opportunities;

. Development of infrastructure

.Facilities Simplified procedures for development, operation, and , and maintenance of SEZs,

and also FOR Setting up units and conducting business

.Single window clearance for setting up an SEZ and a unit of SEZ

.Easy and simplified compliance procedures and documentation with stress and self certification


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OBJECTIVES OF STUDY

1. To know about how Special Economic Zone are effective for countrys Economic

Development. .

2. To know about the flow of Foreign Direct Investment and Exports and Imports of the country

3.To know the effect of SEZ on the trade of a country


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REVIEW OF LITERATURE

According to Saeed khan 31 April 2008: Export Processing Zones (EPZs) are an international

phenomenon influencing increasing share of trade flows and employing a growing number of

workers. From 176 zones across 47 countries in 1986; the number had increased to over 3,000

across 116 countries by 2003 India also favours this so in the year 2000, the government

replaced the old EPZ regime by a new scheme of "Special Economic Zones" (SEZs) with several

lucrative incentives/benefits that were not available in the earlier scheme. And in 2005, it enacted

the Act and the SEZ Rules were notified in February 2006. The policy was expected to give a big

push to exports, employment and investment in SEZs. The Ministry of Commerce and Industry

claims that these zones will attract investment of about Rs 1, 00,000 crore including FDI of Rs

25,000 crore and create additional 5, 00,000 direct jobs, by December 2007. The promotion of

SEZs is an attempt to deal with infrastructural deficiencies, procedural complexities,

bureaucratic hassles and barriers raised by monetary, trade, fiscal, taxation, tariff and labour

policies. These structural bottlenecks affect the investment climate adversely by increasing

production and transaction costs. Since country-wide development of infrastructure is expensive

and implementation of structural reforms would require time, due to given socio-economic and

political institutions, the establishment of SEZ is seen as an important strategic tool for

expediting the process of industrialization..

According to Ranjit singh and Arup Barman, September 24 2009 and September 25 2010:

A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more

liberal than a country's typical economic laws. With a view to overcome the shortcomings

experienced on account of the multiplicity of controls and clearances; absence of world-class

infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments

in India, the Government of India announced the Special Economic Zones (SEZs) Policy. The

whole idea behind the setting up of SEZ was to increase the exports and hence accelerate the

economic development of the country. This policy intended to make SEZs an engine for

economic growth supported by quality infrastructure complemented by an attractive fiscal

package. This paper gives a birds eye view about the SEZ, objectives and rules of SEZ,incentives available in SEZs, benefits from SEZ, impact of SEZ in India, the arguments against

the SEZ, the politics behind SEZ and finally the paper ended up with recommendations for the

sustainability of the SEZs in the interest of the farmers and industries both. The authors conclude

that both sector should be protected and also opined that there is a need for suitable change in the

policy.


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According to Ms.S.Chatterjee, January 11, 2008: SEZs have occupied a center stage in the

national consciousness for the past few months due to the events unfolding in Singur and

subsequently the occurrences in Nandigram (a proposed SEZ). Many economies including India

have used the concept of SEZ in one or the other form to promote exports and boost economic

growth. The Indian experiment began in 1965, complemented by new policies regarding exports,

FDI etc to attract investments and boost exports. Since the implementation of these reforms

began there has been a spate of criticisms from a number of quarters on different aspects of the

SEZ policy. Some of the economic issues raised about the SEZ policy have been improper usage

of arable land, food security, loss of low skilled jobs in agriculture, forestry, and small scale

industries. Despite the opposition the government is determined to go ahead with rapid creation

of new SEZs. At the same time the government also claims to follow a policy of economic

growth that enhances both equity and efficiency.

According to Anirudh Burnan, December 15, 2006: A Special Economic Zone (SEZ) is a

geographical region that has economic laws that are more liberal than a country's typical

economic laws. In India, eight previously existing Export Processing Zones have been converted

into SEZs. The policy provides for setting up of SEZ's in the public, private, joint sector or by

State Governments. It was also envisaged that some of the existing Export Processing Zones

would be converted into Special Economic Zones. Over the past few years, the policy of

promoting zones has found favors with the government of India. In 2005, it enacted the SEZ Act

and the SEZ Rules were notified in February 2006. The policy is expected to give a big push to

exports, employment and investment in SEZs. The SEZ Act gives a wide area of discretion to the

State and Central Governments to regulate an SEZ as they see fit.

According to Charles D. Booth and Xianchu zhang January 07, 2010: In 1986, the Peoples

Republic of China enacted its first national bankruptcy law, the Law of the Peoples Republic of

China on Enterprise Bankruptcy, as part of an emerging legal framework for the countrys

transition from a planned economy to a market economy. At the time of its enactment the

bankruptcy law was considered a significant political and economic breakthrough that was

necessary to apply some market pressure on Chinas State-Owned Enterprises (SOEs) to force

them to become more efficient. However, the rapid development of economic reforms in China

soon exposed serious limitations in the bankruptcy law: This article discusses the bankruptcy law

and practice in the Shenzhen Special Economic Zone, which offers an interesting and

informative comparison and perhaps some lessons for China in reforming its national bankruptcy

law.

According to Shalini S .Dagar additional reporting by Amit Mukharjee, E.Kumar Sharma,

Nitya Varadarajan, Krishna Gopalan. Business today, New Delhi .May 6 2007: Circa 2015:

John Doe Jr., the young new CEO at one of the world's largest auto-parts companies, is on a

guided tour of Reliance's Maha Mumbai Special Economic Zone (SEZ). Doe wants to invest

more than a billion dollars in a new factory, and he's weighing his options, which include India

and China His father, John Doe Sr., who last visited India in 2008, has warned him against


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up in Kandla way back in 1965. The policy initiative of April 2000 for setting up Special

Economic Zones aimed at providing a globally competitive and contented environment for

exports to earn foreign exchange. Many economies including India have used the concept of SEZ

in one or the other form to promote exports and boost economic growth, which enhances both

equity and efficiency which will help the country create millions of jobs, attract large-scale

foreign direct investment and boost its export income. This article/paper is aimed to cover the

functions, necessitate and development of SEZs in India and the performance of Indian SEZs.

The overwhelming response to the SEZ scheme is evident from the flow of investment, creation

of additional employment, export performance and attracted FDI in the country. Hence, this

paper concludes that the SEZs are not only factual development engines for the economic

development of the country and also a new dawn of the modern economy.

According to Andrew j .Hughes and Christian R. Richter. June 01, 2009: This paper tests

the hypothesis that the links and dependency relationships between China and her special regions

have changed over the past 20 years with the industrialization of China, and the emergence of

Taiwan as a source of investment and sophisticated manufactures, and Hong Kong as financial

centre and supplier of services. Has this changed the size and direction of spillovers in the

region, and has it curtailed or eliminated American economic leadership? We use time-varying

spectral methods to decompose the links between six advanced Asian economies and the US. We

find: (a) the links with the US have been weakening, while those within a bloc based on China

have strengthened; (b) that this is not new it has been happening since the 1980s, but has now

been reversed by the surge in trade; (c) that Taiwan is more integrated with, and dependent on,

the Chinese economy, while Hong Kong continues her separate development based on

specialization and comparative advantage; (d) that the links with the US are rather complex, with

the US able to shape the cycles elsewhere through her control of monetary conditions,

According to Stephen Creskoff and Peter Walkenhorst April 1, 2009: Many developing

countries operate geographically delineated economic areas in the form of export processing

zones, special industrial zones, or free trade zones. This paper provides an overview of the

application of World Trade Organization disciplines to incentive programs typically employed

by developing countries in connection with such special economic zone programs. The analysis

finds that the disciplines under the Agreement on Subsidies and Countervailing Measures have

the most immediate relevance for middle-income World Trade Organization members that are

not exempt for certain grandfathered programs, but will also concern other developing countries

in the future, as their exemption expires or their per-capita income passes a threshold ofUS$1,000. Incentives related to special economic zones can be broadly grouped into three

categories:

According to Vasant Sivaraman and Charulatha j, Vishnu Pillai. 2004: The SEEZEE

Ceramics Ltd (SEZ) case, set in India, provides a framework for financial analysis and for

exploring a link between economic profits and shareholder value. The student is required to

consider a critical decision for SEZ; the decision to invest and grow as opposed to focusing on


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consolidation of the existing business operations. Associated with this key decision are related

issues pertaining to the financial position of SEZ. The accounting statements point to growing

earnings for the company; however when seen in the perspective of returns expected by the

market, the picture is not bright for SEZ - this is brought out by looking at the economic profits

of SEZ. From being a preferred stock of analysts, SEZ moved quite quickly to large drops in

market value.

According to Business line, Chennai: Jun 21, 2010: The Land Question But these are not the

real deterrents to investors in for the long haul, investors who look beyond the depressing

horizon to a revving business cycle. The real reasons for the backtracking lie in their perception

of an ambivalent policy regime regarding tax concessions, and more ominously, the growing

resistance of the original landowners to the zones. The record of land acquisition is not a

uniformly dismal one to be sure; there are successful SEZs dotted across the country, though

many of them are actually the old export processing zones in SEZ form. But high-profile

opposition in the east and in Maharashtra to the acquisition of farmlands by industrialists has

robbed the SEZ of its flavor .What is new in this opposition anyway? The history of public utility

and power projects and large dams is replete with instances of resistance - from mute reluctance

to violent resistance. Yet, policymakers enamored of Chinas phenomenal growth into a world

economic powerhouse found SEZs to be the linchpin to that success, and assumed it was easily

replicable. Both timing and circumstance, however, had changed. In 2005, when the SEZ Act

came into effect, India was already on a roll, unlike China in 1978 when it had barely emerged

from the shadows.

According to Eric Bellman. Wall Street Journal, Nov 30, 2004: Indias second-largest

software and outsourcing company, Infosys Technologies Ltd., is Mahindra City's first tenant. In

the next few months, Infosys will open offices on its 129-acre campus, which is earmarked to

become one of the world's biggest software-development centers. "Ultimately we plan to have

25,000 people on our campus there," says Mohandas Pai, chief financial officer of Infosys in

Bangalore. "There are some tax benefits to being in a zone, but to us it was the infrastructure that

was most important." Harshad Daswani, business-development manager at Fountainhead Exports

in Bombay, knows that only too well. He has truckloads of towels stuck at Bombay's port. He

says he can get thread from Japan delivered to his company's factory in China in three days,

while it takes his drivers eight days to move linen from his factory in the northwestern state of

Gujarat to a ship in Bombay. Mr. Daswani says he doesn't know what to tell his customers,

which include U.S. retail giant Wal-Mart Stores Inc. "Bombay docks are a nightmare," he says."But if you try to give your customers these excuses they just don't buy from you -- they go to

China. Mr. Daswani figures Fountainhead and other exporters in India could cut costs by 20%

and boost sales by 30% a year if India had better roads, ports and airports. Privately run SEZs

could help.

According to Businessline, Chennai: May 7. 2003: Special Economic Zones (SEZs), first

proposed in the Exim Policy 2000-01 by the erstwhile Commerce Minister, Mr. Murasoli Maran,


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are now a reality. With Export Processing Zones (EPZs) failing to help achieve the export

targets, sights are on SEZs to deliver the goods. Eight SEZs are already operational - seven EPZs

were converted for this purpose - and another nine have been approved and are to be located

strategically .There are eight distinguishing features which have contributed to the success of

SEZs in China: Unique location, large size, investment friendly attitudes towards non-resident

Chinese, attractive incentive packages, liberal Custom procedures, flexible labour laws, a strong

domestic market and decentralization of power in favors of provinces and local authorities for

administering the zones

According to Business line, Chennai: October 4. 2006: The China Experience the Special

Economic Zone is about exports and forex earnings. In China, they provide, on an exclusive

basis, goods for the developed markets with the combination of cheap contractual labour and

world-class facilities funded by foreign investment. The philosophy behind the SEZ, the first of

which came up in Guangdong Province on China's south-east coast near Shenzhen in 1980, was

to sacrifice equity for growth. The hugely successful Shenzhen SEZ was replicated over the next

decade because SEZs turned the country into the world's largest factory The SEZ Act of 2000

was the work of Murasoli Maran, the then Commerce Minister who, inspired by Guangdong

SEZs, made the concept a central part of the 2000 Exim Policy. The SEZ Act of 2005 was the

result of various efforts at honing the concept to suit local needs. But over the same period, a

combination of policy and economic revival made the SEZ irrelevant the earlier EPZs were self-

explanatory; the word "processing" bound export and zone together to a tight commitment.


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METHDOLOGY

The methodology used was secondary research. Data and findings from the research papers and

articles of other people was selected and reviewed. Brief review of all the articles and papers

studied has been given in the Review of Literature. These all articles were studied deeply to

gather maximum knowledge of the Report on SEZs in India and China. Though no research has

been done on the comparative Analysis of India and China but this paper collected data from the

news articles available from different sources

.


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FINDINGS

State Wise Disparity in SEZ Approvals

Exhibit 2 illustrates the state wise distribution of the number of In-principle approvals, Formalapprovals and Notified SEZs as on 13.05.09 and clearly illustrates the disparity in the same.


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Comparisons of notified SEZ Ranking and GSDP CAGR Ranking

Issue China India

Size Typically in hundreds of hectares. Even 10 hectares will

Location located only on coasts. Anywhere. No restric


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Labour laws Relaxed Flexibility is totally ab

Policy regime Experimentation of liberal policies in the

specified areas

Based on fiscal sops

Investors Basically foreigners who are wooed with

sops and promise of stability in policy.

Basically locals. Not forei

Commencement In 1979 In 1969 with the export p

concept,but failed

Number Only six: Shenzhen, Zhuhai, Shantou,

Xiamen, Hainan and Pudong

So far 28 operational. Abo

approvals

Tax holidays Present Longer and steeper than i


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CHINAs SEZ

Shenzhen

Xiamen

Shantou

Zhuhai


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CONCLUSION

The SEZs could drastically improve the economic activity in the country, make the countrys

export competitive and globally noticeable, be net foreign exchange earner and provide immense

employment opportunity. But this should not be done at the cost of bringing down the

agricultural activities, Land grabbing and real estate mafia should be properly regulated so that

the common man is not the net sufferer to get the net foreign exchange earner up and running. As

compared to china where majority of the SEZs were setup by the government, similar should be

adopted in India, if not fully it should be a public-private partnership and regulatory bodies

should be properly managed to weed out fallacies. To be economically viable SEZs should be

approved over a particular land area (greater than 1000 acres) for rapid economic growth in the

area and for it to be profitable and self sustainable. Relaxed Tax norms, Labor laws and DTAregulations will surely attract foreign investment and major industries to setup industries in the

SEZs making it profitable and meeting its The modern day Special Economic Zone came in to

existence because the economic reforms incorporated in the early 1990s did not resulted in the.

Overall growth of the Indian economy.

On the track of Chinas growth because of SEZ, The Indian government has considered its as a

dream project to promote export, generate employment, and attract huge investment. SEZs

continue to make waves .designed to promote manufacturing ,enhance export ,and entice foreign

capital SEZs have proved a great success to china the pioneer of the concept as also Poland

and Philippines .but in India , they have stirred up a hornets nest .the policy has been on a rollercoaster , especially post Nandi gram And Singur chapters , with fears raised by the people that

the SEZ may well be a route to grab land .The key element for the success of SEZs are political

will, better infrastructure , zero bureaucratic hassles , relaxed labour regulations , better fiscal

incentives , and domestic and international linkages . Do all these parameters hold good in India

in the question. SEZs in India have flourished due to the efforts that have been taken by the

government of India .and therefore , in future too , if the Indian government makes such policies

with regard to SEZs that the policies will increase the number of SEZs , which in turn makes us

assume that they may bring growth and prosperity for the country


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REFERENCES AND BIBLOGRAPHY

INDIA' SEZ - Business Zones Development: Economic Performance, Social/Environmental

Impacts

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1292195&rec=1&srcabs=1279023

Special Economic Zones in India: The Continuity Context

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1681935

The Economics of SEZs in India: Ground Realities and Key Considerations


Special Economic Zones: Issues in Corporate Governance


Economics in the Backyard: How Much Convergence is There between China and Her

Special Regions?

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1411423

How To Save The SEZs; IN all the heat and dust that the issue of SEZs has raised, no one is

asking the most important questions and finding the right answers. This story is an answer

to that problem

http://proquest.umi.com/pqdweb?index=16&did=1265196261&SrchMode=1&sid=3&Fmt=3&V

Inst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1287598893&clientId=129893

Asia: Cash cows; India's Special Economic Zones

http://proquest.umi.com/pqdweb?index=28&did=1148121391&SrchMode=1&sid=3&Fmt=3&V

Inst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1287599017&clientId=129893

Special Report: Watch out, India - Outsourcing to China; Outsourcing to China

http://proquest.umi.com/pqdweb?did=1036942751&sid=3&Fmt=3&clientId=129893&RQT=30

9&VName=PQD


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