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The Rise of the Indian and Chinese Economy - Term Paper Example

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In this paper prospects of two future economic giants, Indian and Chinese, are discussed alongside with their potential to grow. The author of the paper also elaborated many factors that make these two countries future contenders for economic supremacy. …
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The Rise of the Indian and Chinese Economy
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Download file to see previous pages Immediately after the 1949 revolution, the economic policies of China were set aiming at lowering consumption and increasing the process of industrialization. With lower expenditure, the economy was able to make more and more factories. In 1978 the agricultural sector was reformed and the private sector was also allowed to function for the first time in China. These economic policies are said to be the major contributor to the success of the Chinese economy. The process of privatization in China has also increased the overall economic activity of the country.

The story of India is not very different in China. After independence Indian economy was characterized by the extremely protectionist policy. But the policy of liberalization took effect in the 1990s and after that, the economy has shown great prospect. Experts name India as the next big economic giant after China. The growth that India has taken in the last decade of the 20th century and in the early 21st century is amazing.

The rapid industrialization taking place in the two countries have made their economies so strong that there future is prosperous. The potential of the two countries is great. China is the world’s largest exporter. Its growth in the previous 30 years has been 9.5 percent. India is also known as the second-largest growing economy of the world. So the prospects are great for the two economies.

Chinese economy actually benefits from its exports. China imports a great quantity of goods and after value addition exports at higher profits. It relies on small profit margins and for this reason, it is able to export at low prices. This is something which distinguishes China from other economies.  ...Download file to see next pages Read More
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