The Rise of China and India—Its Implications

Pongsak Hoontrakul, Christopher Balding and Reena Marwah

Chapter 6 in The Global Rise of Asian Transformation, 2014, pp 133-161 from Palgrave Macmillan

Abstract: Abstract The rise of China and India could shift the political and economic center of the world to Asia in the next decade. China and India share many similarities: both have a huge population, high economic growth, and ancient civilizations (which provide them with strong national identities) with-out histories of colonizing others. Yet, both are distinct in terms of their political and economic structure and progress. Since opening up in 1978, China has developed into a nation with a larger and wealthier population than India, with the per capita income of an average Chinese citizen being three times that of an average Indian.1 While China is considered “The Factory of the World” because of its reputation for exporting low-cost manufactured goods and merchandise, India is a global center for services, specifically, a hub for outsourcing business work processes and software. Thus, their actions impact the world in a big way.

Keywords: Foreign Direct Investment; Gross Domestic Product; Prime Minister; World Trade Organization; Informal Sector (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-41236-2_6

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DOI: 10.1057/9781137412362_6

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