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This paper attempts to examine the growth performance and its impact on inequality and poverty in China and India. The recent upsurge in growth rates in China and India is seen widely as the "success" story of globalisation. It is also claimed that these developments will make a significant impact on the reduction of global inequalities and poverty.Although a number of scholars have analysed the recent economic performance of China and India, however, these studies have not taken into account the past policies and its impact on current performance. We find there is a gap in the current discussion, which overlooks historical and economic factors on the recent performance.This article critically asses the claimed fall in global poverty due to mainly the rise of China and India in recent years. The article questions the "pro-globalisation" argument, which suggests that there is a link between 'market liberal' free market polices and falling poverty. It is argued instead that the evidence concerning poverty reduction is ambiguous, and is not that the most successful economies have adopted pro-globalisation policies.Studying the developmental changes taking place in these two countries is important because they together account for 37.5% of the global population. These populous neighbours, regarded as symbols of poverty and failure until two decades ago, contain large numbers of people are living below the officially defined poverty line. Key WordsChina, India, neoliberal economic reforms, economic growth, FDI, poverty, inequality, inter-sectoral and regional variations. IntroductionThis study is a modest attempt to understand the dynamics of the development of the economies of China and India, particularly since the adoption of neoliberal economic reforms. Although a number of scholars have analysed the recent economic performance of China and India, (Ahluwalia, 2004; Bhalla, 2003; Srinivasan, 2006 and others) however, these studies have not taken into account the past policies and its impact on current performance. We find there is a gap in the current discussion, which overlooks historical and economic factors on the recent performance. We will also critically analyse the issue of poverty reduction in these two economies presented by international financial institutions. (World Bank, 2006)

Some 42% of the world's population (i.e. 3 billion people) live in Brazil, Russia, India and China, collectively known as BRICs. Of these four, India and Brazil also have a higher than average birth rate. The combined economy of the BRICs made up 25.6% of the global GDP in 2015 and has been projected to increase to 33% by 2020. Studying the BRICs economies is important for a number of reasons including: their rapid economic growth rates, large populations, and fast-growing markets for goods and capital. Their average per capita annual income ranges from about US$ 3,000 to nearly US$ 15,000 in PPP terms. However, in 2015 their average annual GDP growth exceeded 6%, which is much higher than the 1.9% of the OECD countries. It is estimated that their share in the world economy could double over the next two decades, from 25.6% to 40%.

Singapore has gone through a rapid transformation during the last forty-five years. From an entrepot predominantly towards commerce and services in the mid-1960s into an economy, which presently specialising in high value manufacturing activities, and regional financial hub for business services in East Asia. This paper aims to overview the issues of the role of state and foreign investment, which has played an important role in achieving rapid economic growth. For instance, in 2002 Singapore's GDP was 24 times compared to 1965 levels. The average annual growth rate for GDP between 1965 and 2006 was nearly 8 % and GNP increased slightly higher over this period. The study examines the international environment and how it contributed to achieve higher rates of growth. It seems that these aspects are overlooked by the researchers. And with the end of the Cold War and with the recent surge in globalisation of production Singapore's economy is being affected. The study will also argue that the historical factors seem to be important in determining a country's development strategies.

This study analysis developing country's experiences of the last three decades after many of these countries had adopted neoliberal economic policies. An attempt is being made to study their achievements in terms of reducing poverty and unemployment. Also explores neoliberalism and globalisation and its impact on the process and development of democracy in developing countries in the present framework of global capitalism.