Economic Development in China and India -Index
While the average income in China and India remains low, their impressive economic growth and enormous populations have made them two world powers of extraordinary importance, whose economies are surpassed only by that of the United States. Therefore, even if a large slice of their population remains in poverty, the economies of China and India are completely integrated into the world markets and financial exchanges, making the development of these two key countries important to maintaining a peaceful international scene during the 21st Century.
Following the financial crisis of 2008 and the difficulty faced by the main world powers in maintaining sustainable economic growth, China and India are among the few economies to record a positive rate of growth. Many hope that a closer collaboration among these two colossi may lead the rest of the world to break the negative trend of the worldwide economy.
Nevertheless, when China and India are more closely and meticulously compared, the profound difference in development between the dragon and the elephant is immediately noticeable, with the former having a decisive advantage over the latter. [Read more…]