Comparing India and China

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Comparing India and China

Comparing India and China

 

History is repeating itself again, with the emergence of India and China to the world economic center.  More than 250 years ago, China and India was the hub of Industrial production in the world. United States and Europe were appendages of the two giants but the balance was tipped with the industrial revolution in England.  This shifted industrial production from human labor driven to mechanized production.  Consequently, China and India were left to the bottom in the industrial production from 1850s to 1950s.

Comparing India and China

However, there have been a systematic emergence of these two civilizations of artisans and its is  estimated that  within 20-30 years from the turn of the millennium,  there will be four major  economic powerhouses in the world including China, United States, India, and European Union where each will commanded 15% to 20% of the world economic output.

Comparing India and China

The changing economic landscape and emergence of the importance of consumer market puts China and India at an advantageous position due to their large population. China and India holds 37% of the world population and have been experiencing more than 9% growth in their Gross Domestic Product (GDP).