India and China: An Economic Comparison (original) (raw)

Comparing China and India: an introduction

2009

While China and India's average incomes remain low, their sustained economic growth of recent decades combined with their enormous populations (that each exceed the size of the OECD) has turned both countries into such large players that their economic scale is only exceeded by the United States, and possibly Japan.

India and China: An Essay in Comparative Political Economy

2005

India and China are two of the oldest and still extant civilizations. For Europeans, they were legendary seats of immense wealth and wisdom right up to the eighteenth century. Somewhere between the mid-eighteenth century and early nineteenth centuries, both of these countries became, in the European eyes, bywords for stagnant, archaic, and weak nations. For China, this happened between the adulation of Voltaire and the cooler judgment of Montesquieu; in India’s case, it was the contrast between Sir William Jones’s desire to learn things Indian and James Mill’s dismissal of Indian history as nothing but darkness.

China's economy, India's economy, comparative development

European Journal of Comparative Economics, 2009

While China and India's average incomes remain low, their sustained economic growth of recent decades combined with their enormous populations (that each exceed the size of the OECD) has turned both countries into such large players that their economic scale is only exceeded by the United States, and possibly Japan. (2) So though a large share of their populations remain poor, both China and India are already heavily integrated into the rest of the world's trade and financial flows, making their current and future development impossible to ignore. Most recently, as the developed world has slipped into a severe and prolonged recession--which many observers are calling a depression--China and India stand alone among major economies in registering positive growth, with the rest of the world's economies hoping that these emerging giants will help to bring the rest of the world out of its deep morass. Nevertheless, these countries are fragile and are still in the midst of ong...

Comparative Perspectives on India and China

2007

India and China are widely seen as changing the face of the global economy. Assuming that neither country's currency depreciates in a major way and that inflation is higher than in the United States, Panagariya says their combined GDP could grow at a 10 percent rate in constant dollars, to reach 7.8trillionin2015(at2005prices).ThiswouldcomparetoGDPof7.8 trillion in 2015 (at 2005 prices). This would compare to GDP of 7.8trillionin2015(at2005prices).ThiswouldcomparetoGDPof18.5 trillion for the United States, if it sustains a real growth rate of 4 percent, and it would represent a dramatic change in the composition of world income. Based on supply-side factors, Bosworth and Collins believe that both economies should be able to sustain their growth, depending upon continued integration with the global economy, including trade in goods and services, and investment flows.

India's Growth from China's Perspective

Margin: The Journal of Applied Economic Research, 2007

A partial convergence of the Indian and Chinese growth models is likely. Judging from China's experience, sustaining India's impressive economic performance of recent years will require a significant further opening of its economy (externally and internally), higher savings and investments, especially in physical infrastructure and social services, and stronger labor absorption in the modern sectors. The base of India's current economic boom -software, IT-related services and high-end manufacturing -is narrow compared to China's. Poor performance in agriculture is responsible for still significant poverty in many parts of rural India. Bilateral India-China ties, including trade and investment, are increasing rapidly and could help to bring about the structural economic changes India needs. Through its exports to China, India is becoming linked to global supply chains centered on China. The notion that India-China relations are, or are bound to become, fundamentally antagonistic, held by many in the USA, is mistaken and potentially dangerous.

CHINA STILL AN ECONOMIC MODEL FOR INDIA

India and China were almost identical economies in 1950's both facing all the problems of typical underdeveloped economies, like low investment, extreme poverty, huge unemployment, high inflation, shortage of capital goods and many more; But are seen as the economic super powers of the future decades. Both the economies are not sharing the same economic status in the contemporary times, because of huge differences in achieving economic goals and targets. China and India are the world's two most populous countries, with over 40% of the world's people on a contiguous land mass in Asia, hence the economic development of these two countries has a substantial impact on the global economic welfare. Despite the common platform, china has emerged the leading global economic force in the early decade of the 21 st century while India is still fighting against the forces responsible for its economic backwardness.