Lecture 22&23 - China and India Economics Growth

Lecture 22&23 - China and India Economics Growth -...

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China and India - These are the two largest countries in size in terms of population - Now that they have economic growth this will affect the international world - There major impacts are due to manufacturing competition – outsourcing to many semi- skilled countries - India not only is outsourcing to manufacturing but also to servicing industries - The vast pool of savings has lead to a decrease in interest rates; mainly in China - The US main debt issues are because of India and China’s international trading - Another similarity is there rapid GDP growth (India – 5.5%, were China is around 9%), however China has been rapidly growing since 1991 where India has just started - China has been having more success with their political situations due to their totalitarian government, rather than India’s democratic view on things - The Indian economy has been highly regulated due to most production being done in the private sector, where China has been having production done centrally China’s Economic Growth - Economic reforms started in 1978 - Prior to this, China has had a planned economy due to state ownership, which lead to inefficient internal effects - China had a cultural revolution in the 1960’s
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Lecture 22&23 - China and India Economics Growth -...

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