Economic Comparison of India and China

Economic comparison between India and China India's GDP growth rate in April and June 2005 was 1%, 6% in the same period last year. More worth noting is that India has achieved these results. In 2004, [China] invested nearly 50% of domestic GDP in domestic factories and facilities. This is roughly comparable to Indian gross domestic product.

In the dialogue with other wedding guests, the political and economic comparisons of the United States, India, China changed, and I noticed some insight. The United States is a democratic country representing the cultural diversity of developed countries, while China is a totalitarian single party system behind its growth engine. Despite being on the other side of the political side, neither is the role model of each government system. In the developing economic environment, India is an interesting combination of democracy, especially in terms of corruption, which contributes to the suffering of growth.

The cultural and economic relationship between China and India dates back to ancient times. The Silk Road is not only a major trade route between India and China, it is also the basis for promoting Buddhism from India to East Asia. In the 19th century, expansion of opium trade between China and East India Company caused the first and second Opium wars. During World War II, India and China played an important role in stopping the development of the Japanese empire. Contemporary relations between China and India are characterized by border disputes leading to three military conflicts, the Middle India War of 1962, the Cola incident of 1967, and the Middle India Conflict of 1987. At the beginning of 2017, the two countries clashed with the conflict of the Dokram Plateau at the border of China and Africa. However, since the late 1980s, the two countries succeeded in restructuring diplomatic relations and economic relations.

Since 2004, the economic rise of China and India has also helped strengthen the relationship between the two countries. In 2007, trade between China and India amounted to US $ 36 billion, China became India's largest trading partner. The growing economic dependence between India and China has also brought the two countries closer to politics and both India and China are anxious for the resolution of border disputes. They also cooperated on some issues like the 2008 WTO Doha round on Regional Free Trade Agreements. Like India and the United States nuclear agreement, India and China also agreed to cooperate in the field of private nuclear energy. However, the economic interests of China have been opposed to the economic interests of India. Both countries are the largest Asian investors in Africa and are already competing to manage their vast natural resources. When Premier Wen Jiabao recently visited India, India and China agreed to increase bilateral trade volume to US $ 100 billion.