India china comparison
To Know more, click on About Us. This is pure rubbish. The use of this material is free for learning and education purpose. Nevertheless, per capita income remains below the world average.
India china comparison
Add to this its 1. Hence, if the government is able to provide jobs to these workers, the Indian economy is expected to grow by leaps and bounds. This is pure rubbish. Entrepreneurship China is still more or less a communist country. India vs. The Chinese Government faces numerous economic challenges including: a reducing its high domestic savings rate and correspondingly low domestic household consumption; b managing its high corporate debt burden to maintain financial stability; c controlling off-balance sheet local government debt used to finance infrastructure stimulus; d facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; e dampening speculative investment in the real estate sector without sharply slowing the economy; f reducing industrial overcapacity; and g raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. In that sense, India truly is an example for the rest of the world that a very large country with unimaginable diversity can still make significant development gains within a democratic set up. Growth rate accompanied by inflation cannot last for a long period of time. However, China has made more progress on subsidizing innovation than rebalancing the economy. True, 30 years ago the Indian and Chinese economies were roughly of the same sizes. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to ""economic security,"" explicitly looking to foster globally competitive industries. The government's 13th Five-Year Plan, unveiled in March , emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry.
Absolutely not. The slight acceleration in economic growth in —the first such uptick since —gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late It also does so remarkably more efficiently.
India vs. However, since late the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
Given the fact that Indian economy is severely marred by inflation, it seems unlikely that they will be able to compete against China in the long run. They can speak fluent English which gives them an edge over Chinese nationals who face language barriers.
India vs china power comparison
However, now China faces a situation wherein there are more people out of the workforce than in it. On an average, every Chinese worker is expected to pay for the costs of at least two Chinese retirees. Thus, no matter which way one looks at it, the Chinese are, in all likelihood, going to lead us in the economic race over this century. For the past couple of decades, China has followed the one child policy to control population. Reforms began with the phaseout of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. This means that all the enterprises there are run by the state. True, some Indian politicians today are obsessing over China and trying to convince the public that they can lead India to become equal to China. China became the world's largest exporter in , and the largest trading nation in On the other hand, the Indian industry is based on innovative enterprises. India's economic growth slowed in because of a decline in investment caused by high interest rates, rising inflation, and investor pessimism about the government's commitment to further economic reforms and about slow world growth. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since The government's 13th Five-Year Plan, unveiled in March , emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. Given that the future of the world lies in high skilled knowledge jobs, the Indian workforce may soon rise in prominence while the Chinese workforce may soon become redundant. Also, the Indian workforce does high end jobs for the information technology industry and BPO industry as compared to the Chinese workforce which works menial jobs on the factory shop floor. As such, Indian workforce is global in nature.
The Indian manufacturing sector has multiple problems. Workforce The Indian economy on the other hand, has a clear strategic advantage when the workforce is considered.
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