China, India need to increase cooperation

China and India share the competitive advantage of a huge market and disadvantage of insufficient technology level. China excels in relatively complete infrastructure, good public healthcare, low literacy rate, stable macroeconomics, and efficiency in the operation of government agencies, but India has a better legal and financial system. China is becoming an aging society and losing its competitive edge of low-cost labor.

Shen Kaiyan, deputy director of the Institute of Economics, Shanghai Academy of Social Sciences